Netflix increases the prices of its standard premium plans for new and existing members

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Netflix is ​​increasing its prices for current and new members.

The streaming giant’s standard plan will now cost $ 13.99, down from $ 12.99, while the premium plan is now $ 17.99, down from the previous $ 15.99, according to the service’s “help center” streaming.

The standard plan allows two different devices to stream at the same time and the premium plan accepts four.

Netflix will not make any changes to the pricing for the Basic plan, which allows only one device to stream.

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New members who sign up to the platform will immediately see updated prices, while current users will receive a notification 30 days before the price increase. Current customers will likely see updated prices on their invoice over the next couple of months.

Netflix is ​​increasing its prices for current and new members. (AP Photo / Jenny Kane, file)

“We understand that people have more entertainment choices than ever before and we are committed to providing an even better experience for our members,” a Netflix spokesperson told CNET. “We are updating our prices so that we can continue to offer a greater variety of TV Shows and Movies – in addition to our great fall programming. As always, we have a range of plans so people can choose the price that best suits their budget.

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In July 2019, Netflix suffered a drop in US subscribers – 123,000 – following a price hike announced the previous January. It marked the biggest price increase ever – $ 2 per month for the standard plan, $ 1 for the basic – since the company launched its streaming service more than a decade ago.

However, for all of 2019, Netflix ended the year with over 26 million new subscribers worldwide. As of July 2020, Netflix had more than 190 million subscribers worldwide.

Netflix did not immediately respond to FOX Business’s request for comment

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