Netflix raised monthly subscription plans in the United States by up to $2.
According to Reuters and other foreign media on the 27th, Netflix on the 26th (local time) raised the ad-supported Standard plan by $1, from $7.99 a month to $8.99.
The ad-free Standard and Premium plans each went up by $2. Standard rose from $17.99 to $19.99, and Premium increased from $24.99 to $26.99. The Premium plan offers more 4K quality and simultaneous streams than Standard.
The higher prices take effect immediately for new subscribers. The pricing page has also been updated to reflect the increase. Existing members will receive individual email notifications at least 30 days in advance, after which the higher rates will be applied sequentially from the next billing cycle. The affected countries are the United States, Canada and Argentina.
Netflix raised subscription fees 1 year and 2 months after its last price increase in Jan. last year.
Regarding the increase, Netflix said it was "to reinvest in high-quality entertainment and improve the service experience." The move is seen as a need to secure additional expense as it expands new services such as live sports broadcasts and video podcasts.
Netflix said it plans to increase content investment from $18 billion last year to $20 billion this year.
Netflix also raised prices on some plans in Korea in May last year. That came three months after it increased plan prices in the United States in Jan. last year.
At the time, the ad-supported Standard plan rose from 5,500 won a month to 7,000 won, and the ad-free Basic plan increased from 9,500 won to 12,000 won. However, the ad-free Standard and Premium plans remained at 13,500 won and 17,000 won, respectively, with prices kept unchanged.