US and Canadian Netflix subscribers brace for unexpected price increases
What you need to know
- Netflix has raised its prices on Friday for new subscribers.
- Current subscribers will also be affected by the price change "in the coming weeks."
- Plans are going up by $1 to $2 per month depending on the plan.
Netflix raised the prices of its plans on Friday for U.S. and Canadian subscribers in a move that seemingly came out of nowhere.
In a report from Reuters, the company is raising prices from $1 to $2 per month depending on which plan you're on. The basic plan now costs $9.99, with the standard plan and premium plan going for $15.49 and $19.99 per month, respectively. In Canada, the respective prices are $9.99 CAD, $16.49 CAD, and $20.99 CAD.
Netflix didn't immediately respond to our request for comment on the increase. However, a spokesperson explained the increase for
While price increases are understandable given the amount of money spent on licensing and producing original content, it's a bit strange that there wasn't a formal announcement made prior to the increase.
One of Netflix's biggest competitors, Hulu, normally gives customers a month's notice before pricing changes to unto effect. Additionally, this brings the Netflix basic plan in line with HBO Max's ad-supported plan while making it even more expensive than Hulu or Disney+.
While the increase may deter some viewers, others may not mind paying a little more for access to content like "Squid Game," "Don't Look Up," and "Arcane."
T-Mobile subscribers also don't have to worry — the best U.S. wireless carrier says on its press site (opens in new tab) that it will continue to cover your subscription.
With the streaming platform's earnings call scheduled for January 20, we should learn more about the company's motives.
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Derrek is a long-time Nokia and LG fanboy who loves astronomy, videography, and sci-fi movies. When he's not working, he's most likely working out or smoldering at the camera.
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