Netflix Is Hiking Up Their Rates for November

Alicia Cross
October 6, 2017

Netflix on Thursday said it is bumping up subscription prices in the United States and parts of Europe as the leading online streaming service invests in more shows and features. Customers will be given at least 30 days notice of the price increase. The premium plan, which is now priced at $12 for 4K and streaming on four screens simultaneously, will cost $14 (a $2 increase).

The price of the basic package, about $8 a month stays the same.

As Internet streaming services become increasingly popular amid continuing cord-cutting, Netflix and rival streamers Amazon and Hulu are aggressively spending to acquire new series from major Hollywood and worldwide suppliers, or produce their own original shows.

Netflix has already started raising prices for new subscribers. Premium tier pricing will increase from $11.99 to $13.99. The plan, which allows for two people to watch content simultaneously on different devices, will go up to $10.99/month from the current price of $9.99/month.

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The hike comes just as Netflix fans prepare for the hotly anticipated second season of Stranger Things.

It's going to cost a little more each month to "Netflix & Chill". When the bulk of that process happened a year ago, media and public chatter rose to such a degree that Netflix blamed it for a missed quarter of subscriber growth. About $12 a year for Netflix, Inc.

Analysts said the company has a strong originals slate coming up on the fourth quarter - including "Stranger Things" season 2 (premiering October 27) and "The Crown" season 2 (Dec. 8) - which should minimize the impact of customers cancelling their service. Meanwhile, companies keep adding features and original video; Netflix is likely to spend $6 billion this year on content costs.

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