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Netflix Announces Their Biggest Price Increase in a Decade

Photograph by Unsplash

If there's one thing no one wants to hear about right now, it's having to pay out of pocket to enjoy shows and movies worth streaming. (Seriously, bills are too high as it is.) Unfortunately, Netflix just announced they're raising prices —the "biggest increase" since the streaming service giant launched over a decade ago.

Netflix's basic plan will increase from $7.99 to $8.99 a month, with its standard plan (HD availability and the option to stream from two screens at the same time) rising from $10.99 to $12.99 a month. The premium plan (all of the standard plan's perks with Ultra HD availability and the option to stream from four screens at the same time) will rise from $13.99 to $15.99 a month.

CNBC notes the new pricing structure will affect current subscribers over the next three months with new customers having to pay up now.

This is the fourth time Netflix has raised its prices in the US, and the first time it affects all 58 million subscribers across the country.

The Associated Press reports the "extra cash will help to pay for Netflix’s huge investment in original shows and films and finance the heavy debt it has assumed to ward off rivals such as Amazon, Disney and AT&T."

Given Netflix shelled out $100 million to keep "Friends" in 2019 after heavy backlash, the new price hike is quite timely.

So, if you want to keep the binge-watching party going, you're going to have to pony up the extra dollar (or two) a month. Not into it? Cancel that subscription and keep it moving.

Yes, pricing increases aren't fun (especially if we're not on the receiving end), but we do have a choice in the matter.

This post was originally published on Mom.me sister site CafeMom.