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Roommates, we know how much you love the car Netflix and stream your favorite TV shows and movies, but now you need to be prepared to shell out more coins to do so. In a recent announcement, popular streaming service Netflix confirmed that prices are going up!
In case you were wondering, it’s not just some plans hit increase, but they are all in the US and Canada. In the US, the subscription price for the standard plan rose to $15.49, the basic plan went up to $9.99, and the premium plan is now $19.99, @CNN reports. A Netflix spokesperson spoke about the latest price hike.
“We understand that people have more entertainment options than ever before, and we are committed to providing a better experience for our members. We are updating our pricing so that we can continue to offer a wide variety of quality entertainment options. As usual Like, we offer a range of plans so members can choose a price that fits their budget,” they said.
Meanwhile, Canadian Netflix subscribers are also included in the price hike. In Canada, Netflix’s standard plan went up $1.50 to $16.49, while the premium plan went up $2 to $20.99, although the basic plan didn’t change.
The company’s increase in prices is said to be due to market saturation and an increase in users. Compared to when Netflix created the market in the early 2000s, the market for streaming services now has more options than ever before.
Additionally, Netflix now has more subscribers than at any time in the company’s history. The company now has 74 million users in the US and Canada.
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