How Much Netflix Price Hike Is Going To Cost You
The days of cheap streaming have come to an end, and Netflix is no exception when it comes to price increases, according to USA Today. Effective immediately, the premium plan for Netflix will cost $22.99, which is a fancy way of saying $23. But with price increases comes options, and as of this writing there are a number of different streaming packages for you and your wallet to consider if you want to continue streaming.
The Netflix premium plan is increasing by $3 and now costs $22.99 a month.
If you don’t want to miss out on any of your favorite Netflix originals, the ad-supported tier is probably your best option because it boasts a competitive price of $6.99 a month. One downside to this package is that some TV shows and movies will not be available due to licensing restrictions. But still, if you don’t mind the occasional commercial, then you’ll be able to watch a majority of the content that Netflix has to offer without the hefty price tag.
Moving on up, the basic plan, which allows you to stream content on one device will be locked in at $11.99 a month if you’re already an existing Netflix user. But this price point will be phased out if you’re new to the service, and not available to you if you aren’t already utilizing it.
Now here’s the good news: if you’re using the standard Netflix plan, which is locked in at $15.49, the price will remain the same, and in our opinion this service level gives you the most bang for your buck. On the standard plan, you’re able to watch unlimited ad-free movies, and TV shows. You’re also able to watch and download on two supported devices at a time.
The Netflix premium plan will see a $3 price increase, costing you a total of $22.99. But with this plan comes the most options and allows you to use the most devices. With this plan, you can watch on four supported devices at a time, and download on six supported devices.
If you don’t want to miss out on any of your favorite Netflix originals, the ad-supported tier is probably your best option because it boasts a competitive price of $6.99 a month.
Since Netflix has cracked down on password sharing, adding extra members to either the standard or premium plan will run you an additional $7.99 a month for each person you add. In other words, if you don’t want your Netflix fee to be bloated by yet another price increase, it’s probably a good time to change your password or start sending your old roommates your Cash App details so they can reimburse you.
The unfortunate reality that we’re facing is that ad-free streaming is no longer cheap like it used to be. Netflix isn’t the only service increasing their price, and Disney+, Hulu, and Peacock have also seen an increase in recent months.
If you’re using the standard Netflix plan, which is locked in at $15.49, the price will remain the same.
Netflix said that their price increases are necessary if they want to continue delivering more value to their members, and in their own words, the ad-supported tier’s monthly fee costs less than a single movie ticket.
As streaming companies scramble to become or remain profitable, Netflix is making the right move financially speaking. In the third quarter alone, Netflix gained 8.8 million subscribers despite the price increases, and this could be largely attributed to their efforts to crack down on password sharing. Their net profit also rose 20 percent to $1.68 billion.
Hopefully this will be the last Netflix price increase we see for the foreseeable future, but if the costs continue to climb, it wouldn’t surprise us if members started gravitating toward the lower-priced packages to save a little bit of money.
