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Netflix will increase the price for both basic and premium plans in the U.S., France, and the U.K. starting on Wednesday, multiple outlets reported.
In the U.S., the prices for the basic plan, the lowest tier which doesn’t include advertisements, will increase from $9.99 to $11.99. This plan is no longer available to new subscribers, so the price increase impacts existing users.
Those on the streamer’s premium plan, which allows users to watch in Ultra HD and download on six supported devices, increased from $19.99 to $22.99.
The $6.99 plan with ads and the $15.49 standard plan will remain the same price.
In France and the U.K., the prices for standard and ad plans remained the same. In contrast, the basic plan increased to 7.99 pounds and 10.99 euros, respectively, and the standard plan increased to 17.99 pounds and 19.99 euros, respectively, according to the Hollywood Reporter.
“While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more,” Netflix said in its third-quarter shareholder letter.
Earlier this month, reports circulated that Netflix planned to raise prices for streaming plans without advertisement after the SAG-AFTRA actors’ strike was settled.
However, talks between the major Hollywood studios and streamers and the actors’ union broke down on Oct. 11.
In July, Netflix CFO Spence Neumann told investors the company was “more than a year out” from any price increases in major markets like the U.S., Variety reported.
The company mostly paused price hikes after rolling out the paid-sharing program starting in May.
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