It looks like Netflix subscribers are making their way into the New Year with a major price increase.
Netflix just announced a spike in its monthly subscription prices for members living in the United States, increasing the standard plan from $10.99 per month to a $12.99 monthly cost. That’s an increase of about 18 percent, a major hike for the streaming company.
The streaming giant’s Premium Plan has also gone up with an increase of 2 dollars, turning the $13.99 monthly cost to $15.99. Meanwhile, the Basic plan which allows subscribers to stream content in standard definition on one screen at a time has also seen a hike, turning from $7.99 to $8.99. A couple dollar increase might not seem like much to some, but the price hike might not seem quite amenable to some especially when Netflix is expecting a 20 percent loss in content with major studios launching their own streaming sites this year.
Not only is Disney planning on launching Disney+ within the next 11 months, but Warner Brothers and Comcast are also following suit, creating streaming sites of their own.
Netizens won’t be eager to learn that Netflix is increasing the cost of its monthly subscription during a time when they’ll be forced to subscribe and create different accounts just to tap into Disney, Warner Brothers and Comcast's library of shows and movies.
Netflix’s new prices are to go into effect immediately for the site’s new subscribers. Members of Netflix’s streaming site will get to have a taste of the price hike within the next three months.