Watching The Witcher, Stranger Things 4, and the upcoming Squid Game on Netflix will soon cost you more, at least if you live in the US or Canada.
Netflix has confirmed to TechRadar that the streaming giant will increase prices for most North American customers starting today (Friday, January 14, 2022).
Price increases range from €1 to €2 on Netflix streaming plan options.
Subscribers to the Basic Individual plan who do not receive HD content will pay €9.99 per month (previously €8.99). This means that the company is now a penny away from its basic service that costs double digits (€10 or more). In Canada, however, the base level remains at CAD €9,99.
A standard plan, which allows for two simultaneous HD streams, starts at the odd amount of €15,49 per month (€16,49 CAD), down from €13,99 previously.
Premium, which streams up to four 4K Ultra HD TV screens simultaneously, is dropping from €17,99 to €19,99 per month (CAD €20,99).
Netflix told TechRadar: "We understand that people have more entertainment options than ever before and we are committed to providing an even better experience for our members. We are updating our prices so we can continue to offer a wide variety of quality entertainment options." As always, we offer a variety of plans so members can choose a price that fits their budget.
For new subscribers, these tier prices are effective immediately. Existing subscribers will see the increases in the coming weeks, after receiving an email notification. Simply put, your next bill should reflect the monthly increase.
This is the second time in two years that Netflix has raised subscription prices.
Why is Netflix doing this?
Netflix's decision should come as no surprise. It faces new and growing competition from Amazxin Video, Apple, and the rise of Disney+, which, according to Statistica, has already reached 118 million subscribers just two years after its launch. Netflix remains the leader with 214 million subscribers.
Staying ahead of this competition means new series, new movies, and original content concepts. All this costs money, billions. In 2021, Netflix spent €17 billion on content. I could spend a lot more than that this year.
This money comes in part from subscription fees. Now, those fees are rising to support Netflix in its quest to stay number one.
What can US consumers do to manage costs? They can upgrade from, say, Premium to Standard, or if they watch all their Netflix on a small smartphone screen, even consider the $9.99 non-HD plan.
The other option is to upgrade to Disney+, which costs just €7.99 a month, or AppleTV, an affordable budget of €4.99 a month. Remember, these streaming platforms don't have The Witcher, Stanger, or most of the Disney, Marvel, and Star War franchise movies.