Netflix has raised the price of its monthly subscriptions in the United States and Canada, effective immediately for new subscribers from Friday.
In the US, subscribers to Netflix’s basic plan, which allows one stream to one screen at a time and has no HD streaming, will now be charged $9.99 per month, down from $8.99 previously. Standard plans – which allow users to stream to two screens at the same time – now cost $15.49 per month, up from $13.99, while premium plans have increased to $19.99 per month.
Existing subscribers will begin to see price changes “over the next few weeks,” depending on their billing cycle, a Netflix spokesperson said. The Hollywood Reporter. Subscribers will receive an email and in-app notification 30 days before the new subscription prices take effect in their accounts.
Canadian subscribers will also face price increases, although the basic plan will remain at the same price for the time being. Standard plans in Canada will now cost CAD$16.49 and premium plans will cost CAD$20.99.
The price increases come as Netflix recently experienced slow growth in the US and Canada and at one point lost around 400,000 subscribers in the region during the second quarter of 2021. The streamer has was able to recover from these losses in the third quarter, adding approximately 70,000 new paying subscribers in the US/Canada, but the Asia-Pacific region emerged as the largest contributor to Netflix’s subscriber growth.
Netflix last raised prices in October 2020 by $1 to $2, depending on subscription level. The streaming giant plans to release its fourth quarter 2021 results later this month, on January 20.