Netflix is cranking out content left and right, but ultimately that comes at a cost — to users.
The streaming giant has announced plans for its largest price hike yet.
Netflix’s most popular plan, the Standard tier that offers two HD streams, is increasing 18%, from $10.99 to $12.99 per month. The Premium plan, which provides up to four Ultra HD streams, is increasing from $13.99 to $15.99 per month (up 14.3%).
In addition, the company for the first time is hiking its Basic plan, which offers a single non-HD stream, from $7.99 to $8.99 per month (+12.5%).
These new prices will apply new Netflix subscribers in the United States, effective immediately. Those with current plans will be transitioned into the new pricing plans “over the next few months.”
The new rates will also apply to about 40 countries in Latin America, but not Mexico nor Brazil.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” a company spokeswoman said in a statement.
According to Netflix, existing members will be notified by email and within the Netflix app 30 days before the new prices are applied to their accounts.
It’ll be interesting to see how these price hikes from various streaming companies affect subscriber numbers. What was initially meant as a cheaper alternative to cable is slowly becoming just as expensive. By the time you pay $14 for Netflix, $12 for Hulu, HBO, Disney+, ESPN+, etc — you’re basically back at the cost of cable.