The panorama: Netflix is raising the price of its subscription streaming service in the United States for the second time during the pandemic. With more entertainment options now than ever before, Netflix will use the extra money to continue offering subscribers a wide range of quality options on its platform.
A basic Netflix account, which allows streaming on only one device at a time and doesn’t include HD or 4K content, is now a dollar more expensive per month at $9.99. Going up to the standard tier lets you watch on two screens simultaneously and includes HD content for $15.49 per month, a $1.50 increase over the previous rate.
The top-tier premium package allows for four simultaneous streams, as well as 4K Ultra HD content when available. That will now cost you $19.99 per month, instead of $17.99.
rates they’re also going up in Canada, with the standard plan now priced at CAD16.49 per month.
said a spokesman Reuters they are updating the prices in order to continue offering a wide variety of quality entertainment options. “As always, we offer a variety of plans so members can choose a price that fits their budget,” the spokesperson added.
Share value in Netflix soared around $20 on the news, but it closed after losing half of those gains at $525.69.
Netflix raised their prices for the last time in the US in October 2020, adding $1 to the standard tier and $2 to the premium tier. The base level remained unchanged in the latest wave of price increases.
With the new fees, Netflix is now significantly more expensive than rival streaming services. HBO Max can be had for $7.99 per month for a full year, the same as Disney+. The Disney Bundle, which includes Disney+, ESPN+, and the ad-supported version of Hulu, is priced at $13.99 per month.
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