STREAMING

Netflix hikes prices across the board for US subscribers

A basic Netflix account, which allows for streaming on a single device at a time and doesn’t include HD or 4K content, is now a buck more expensive per month at $9.99. Moving up to the standard tier lets you watch on two screens simultaneously and includes HD content for $15.49 per month, a $1.50 hike over the previous rate.

The top-tier premium package allows for four simultaneous streams as well as 4K Ultra HD content when available. That'll now set you back $19.99 per month, up from $17.99.

Rates are also going up in Canada, with the standard plan now priced at 16.49 CAD per month.

A spokesperson told Reuters they are updating pricing so they can continue to offer a wide variety of quality entertainment options. “As always, we offer a range of plans so members can pick a price that works for their budget,” the spokesperson added.

Share value in Netflix shot up around $20 on the news but closed after losing half of those gains at $525.69.

Netflix last raised its prices in the US in October 2020, tacking on $1 to the standard tier and $2 on the premium tier. The basic tier was unchanged in the last wave of price increases.

With the new rates, Netflix is ​​now significantly more expensive than rival streaming services. HBO Max can be had for $7.99 per month for a full year, the same as Disney+. The Disney Bundle, which includes Disney+, ESPN+ and the ad-supported version of Hulu, is priced at $13.99 per month.

Image credit: David Balev