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Netflix Hikes Price for U.S. Subscribers

Netflix
(Image credit: Netflix)

LOS GATOS, Calif.—Netflix is upping the ante for subscribers that want access to its content, as the popular streaming service has announced an increase to its monthly subscriber fees for U.S. customers, according to multiple reports.

Netflix’s standard plan, which offers two HD streams, is increasing from $12.99/month to $13.99/month. It’s premium plan—offering four HD streams, including 4K/UHD content—is jumping from $15.99/month to $17.99/month. The streamer’s basic plan, featuring a single non-HD stream, remains at $8.99/month.

As a result of the price increase, Netflix’s stock jumped about 5% in the afternoon of Oct. 29. 

The announcement came after Netflix released its third quarter 2020 financial report, in which it experienced a slowdown in subscriber growth but still estimated that it will surpass 200 million subscribers by the end of the year.

According to reports, the new prices will be immediate for new subscribers. Current subscribers will be notified and switched to the new pricing over the next few months.