One of America’s largest streaming services is once again raising its prices.
Netflix announced that while its baseline plan at $7.99 a month will remain at that same price, it’s HD quality will be raised to $13.99 a month (previously $12.99 a month) and its premium plan will go to $17.99 a month (previously $15.99 a month).
The last time the company increased its prices was in January 2019.
This comes at a time where the corovairus pandemic made the service gain over 25 million new customers.
Those who sign up for Netflix now will get those new prices and current customers of Netflix will see the price adjusted in their monthly bill starting a couple months from now. Current customers will also be notified of the price increase to their bills before it comes as well.
A spokeswoman who spoke with MarketWatch said the primary reason for the increase in price is so the streaming service can offer more quality content and original programming.
Netflix faces quite an uphill battle when it comes to original content now, as it is now competing with Disney+, HBO Max and Peacock, so the need for more money per month from customers does make sense on the company’s end.
It has also been estimated that in 2020 alone, Netflix has spent $18 billion on original programming. In March 2020, it was also reported the company has nearly $15 billion in debt, so price increase on that end makes sense too.
Netflix is available to stream on the iPhone, iPod Touch, iPad, Apple TV and Mac.
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Feature image courtesy of BetaNews.com