Ah, fall: the days grow colder, the nights grow longer, and it’s the perfect season to hunker down, grab a blanket and a beverage, and binge-watch your way through the winter. Unfortunately for Netflix’s millions of fans, the price of spending quality time on the sofa with your favorite Netflix shows is going up this year.
For subscribers on the “standard” tier, prices are going up by $1 per month, from $9.99 to $10.99.
Customers on the “premium” tier will see a slightly larger bump, going from $11.99 to $13.99. Subscribers to the “basic” $7.99 tier will, however, see their pricing left alone… for now, anyway.
The higher prices will begin to kick in for existing subscribers during November. Basically, starting next week, on your next billing date you’ll be told that the price for you will be higher on the bill after that.
If you go to sign up for a new Netflix account today, your pricing options look like this:
Price increases at first were comparatively uncommon for Netflix — but then again, the entire idea of a streaming TV content service is, itself, barely ten years old.
Customers faced their first $1 increase in 2014, first only for new subscribers. Then Netflix last raised prices over a year ago, when it bumped the Standard plan from $7.99 to $9.99.
Now, the company seems to be joining the likes of many other industries — wireless, cable, even Starbucks — in making price bumps a more-or-less annual thing.
In 2016, the company did indeed lose a few subscribers after a price hike — but considering that it’s crossed 50 million subscribers in the U.S. and 100 million worldwide, the last price hike doesn’t appear to have slowed Netflix down for long.
In a statement, Netflix said, “From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster.”