Netflix set to increase prices on their streaming services

Business / Entertainment / Movies / TV
increase prices

With the company pouring more resources into Netflix Originals it makes sense they would raise prices.

Netflix is getting ready to increase prices very soon. The increase will affect both their standard and 4K streaming services in Canada and the U.S. Currently, the standard service gives customers HD streaming and two screens and is priced at $9.99USD/CAD. The premium service gives customers ultra HD 4K and four screens and is priced at $11.99USD/$12.99CAD. The increase will see the standard price go to $10.99USD/$10.99CAD and the 4K service will go to $13.99USD/CAD. Netflix will leave their basic service price at $7.99USD in the U.S. but will increase it to $8.99CAD in Canada — but that only allows one screen and standard definition.

According to a Netflix spokesperson, users will be notified of the new prices based on their billing cycle and will get 30 days notice before the changes takes effect. Netflix will begin notifying members of the change on October 19.

“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,” the company said in a statement.

While U.S. Netflix customers will be notified starting on October 19th, Canadian Netflix customers have already been notified and will see the price increase on October 23rd. It’s interesting that the Canadian prices are getting a dollar bump while the U.S. prices are getting a two dollar per month bump — making the Standard tier cheaper in Canada and the Premium tier the same dollar amount but still cheaper in Canada after the dollar conversion.

With the company pouring more resources into Netflix Originals it makes sense they would raise prices. Users generally don’t like an increase in prices but Netflix could get a pass given the number of quality originals they’re pushing out. This isn’t the first time the company has raised prices. Last year they did the same moving the standard plan up from $8.99USD/CAD to $9.99USD/CAD. It will be interesting to see the public’s reaction to the price increase. We’re predicting that the future could bring more of the same.

What do you think of the new Netflix pricing? Do you mind paying a few dollars more? Do you like Netflix’s Original programs? Let us know what you think in the comments below, or on Google+, Twitter, or Facebook.

  Source: CNN
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