Netflix has announced that it is imposing another price increase on its Basic and Premium plans in the United States, the United Kingdom, and France.
In the United States, the price of the Basic plan will increase from $9.99 to $11.99 per month, while the price of the Premium plan will increase from $19.99 to $22.99 per month. The ad-supported tier price will remain the same at $6.99 per month, as will the $15.49/month Standard plan.
While Netflix no longer offers the Basic plan to new subscribers in the U.S., existing subscribers will presumably be hit with the increase.
Netflix’s Premium plan is the only plan that provides access to 4K video streaming and spatial audio. The streamer’s $15.49 Standard plan and the ad-supported plan are limited to 1080p streams.
Netflix announced the price hikes in its earnings call for the third quarter of 2023 [PDF], which took place on Wednesday. During the call, Netflix said that it added 8.8 million new subscribers, up from 2.4 million new subscribers in the year-ago quarter. Revenue was $8.54 billion, an increase from $7.9 billion last year. However, that increase in income apparently wasn’t enough for the Netflix bigwigs, hence the subscription price increase.
