The rumors are true: Netflix is raising their prices.Recently, there had been reports that Netflix was planning to implement a price hike following the end of the SAG-AFTRA strike. Per The Verge, the streaming company has now confirmed that news in a new letter to shareholders, though it’ll be happening immediately rather than waiting until the strike’s end. The letter states that Netflix has surpassed its projected growth for the year’s third quarter, in part due to cracking down on password sharing and offering an ad-supported tier for a cheaper $6.99 per month.Also revealed is that prices are going up as of now. The $9.99 per month Basic plan has been upped to $11.99, while the Premium plan at $19.99 will now cost $22.99 per month. The good news for the subscribers is that the ad-supported plan at $6.99 and the Standard plan at $15.49 will remain unaffected for now. Netflix touted the cheaper price of the ad-supported plan while explaining the price hike in the shareholder letter.Related: Film Studios Prepare for Intense ‘Horse-Trading Session’ Upon End of Actors’ Strike
The rumors are true: Netflix is raising their prices.
Recently, there had been reports that Netflix was planning to implement a price hike following the end of the SAG-AFTRA strike. Per The Verge, the streaming company has now confirmed that news in a new letter to shareholders, though it’ll be happening immediately rather than waiting until the strike’s end. The letter states that Netflix has surpassed its projected growth for the year’s third quarter, in part due to cracking down on password sharing and offering an ad-supported tier for a cheaper $6.99 per month.
Also revealed is that prices are going up as of now. The $9.99 per month Basic plan has been upped to $11.99, while the Premium plan at $19.99 will now cost $22.99 per month. The good news for the subscribers is that the ad-supported plan at $6.99 and the Standard plan at $15.49 will remain unaffected for now. Netflix touted the cheaper price of the ad-supported plan while explaining the price hike in the shareholder letter.
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