Netflix Raising U.S. Prices Yet Again, Premium Plan Now Costs $23/Month
Netflix today said that it is increasing the cost of some of its subscription plans in the United States, the UK, and France. Prices will be going up for the Basic and Premium plans in those three countries.
In the United States, the price of the Basic plan will increase from $9.99 to $11.99 per month, while the price of the Premium plan will increase from $19.99 to $22.99 per month. The ad-supported tier price will remain the same at $6.99 per month, as will the $15.49/month Standard plan.
Netflix no longer offers the Basic plan to new subscribers in the United States, but prices will presumably increase for existing subscribers.
The Premium Netflix plan is the only plan that provides access to 4K video streaming and spatial audio. The $15.49 Standard plan and the ad-supported plan are limited to 1080p.
Netflix announced the price hikes in its earnings call for the third quarter of 2023 [PDF], which took place today. Netflix said that it added 8.8 million new subscribers, up from 2.4 million new subscribers in the year-ago quarter. Revenue came in at $8.54 billion, up from $7.9 billion last year.
Subscriber growth comes after Netflix began cracking down on password sharing between households. Netflix says that cancel reaction to the password sharing limitation "continues to be low," exceeding its expectations.
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