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Netflix is Raising Prices in US and Canada

The media streaming giant has introduced it's first price increase since the Fall of 2020, coming just one week before it's earnings report

Netflix, one of the world’s top media streaming platforms, said Friday it is raising the prices on its plans in the United States and Canada.

In the US, the subscription price for the standard plan is increasing $1.50 to $15.49. The basic plan is rising $1 to $9.99, and the premium plan is rising $2 to $19.99

In Canada, Netflix’s standard plan price is increasing $1.50 to $16.49 Canadian. The premium plan is rising $2 to $20.99 Canadian. The basic plan will remain unchanged.

Netflix provided a statement to CNN Friday to explain its choice to raise pricing, something the company hasn’t done since October 2020.

“We understand people have more entertainment choices than ever, and we’re committed to delivering an even better experience for our members,” a Netflix (NFLX) spokesperson said. “We’re updating our prices so that we 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.”

Netflix stock was up about 2% following the news of the price hike. It was announced just one week before the company releases its fourth-quarter earnings.

The reason behind the company’s move is pretty simple. Netflix has spent billions of dollars on content. However, as streaming becomes more integral to entertainment, companies like Netflix tend to slow. As companies reach most prospective customers in a given market, attracting new subscribers gets harder.

Raising prices on current customers is an easy way to increase revenue as growth slows.

According to October’s earnings report from Netflix, it added 4.4 million subscribers, bringing its global subscriber number to 213.5 million. The growth followed two consecutive slower quarters of growth and revenue for the streaming media company.

The same report from October said that Netflix added roughly 70,000 subscribers in the US and Canada. An improved trajectory from a loss of subscribers in the second quarter, but up only about 1 million subscribers from year-earlier totals in those countries.

The company said it has 74 million members in the US and Canada. However, as the company reaches saturation levels in those markets, growth has been slower.

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12 responses to “Netflix is Raising Prices in US and Canada”

  1. jamessuraciart says:

    HAHAHA! Good for them. Paying for movies you can’t keep is for SUCKAS!

  2. JazzRocknRoll says:

    I canceled Netflix 5 years ago. When they asked why I said they were heavy on the postmodernism narrative.
    We’re living in a time of juvenile behavior, a culture loaded with virtual signalers and drama queens. They bore me. Hopefully, young Zoomers are moving toward a society of science, engineering, and civil liberties.

  3. IntegratedCrazy says:

    I will continue not paying for their garbage service. Seriously, netfags is a waste of money.

  4. pandusa says:

    Rawdog-I know I am learning. We ARE ALL learning things they may regret teaching us. LOL YO I tried to report “reply” problem but I am not signed in to gaggle, FB, ect or any other mediums. So could someone smarter than me give them a tech holler on this reply problem?

  5. Wolv256 says:

    Let’s Go Brandon!!!

    That said I can’t hate on Netflix too much, with how much inflation there is thanks to Biden’s corruption and money printing I actually think that raise is fair. Thank you for the service you provide (except for when you tried to peddle pedo stuff with “Cuties” and how you try and force Asian shows onto our market to intimidate us).

  6. ColonelLingus says:

    Fuck these Netflix cunts. They cancel all the truly great shows and perpetuate low cost crap programming. Am I the only one who loved Ironfist and Marco Polo?

    And yet, I still pay them for 4 screens month over month.

    I have met the enemy and he is me.

  7. groberts1980 says:

    Why are they so dependent on growth? Once they reach market saturation (where most consumers already have Netflix) aren’t they making enough money to continue? How many times do they think they can raise the price every 2 years? I’m honestly not sure if they can go beyond $20/month for their service given how many other services people have. Especially with Netflix losing content like Star Wars/Disney to Disney+.

  8. Rawdog says:

    And it is beginning.
    Secondary companies (any company that only provides ‘convenience’) REQUIRES a good economy to survive.
    People are already discovering that they DON’T need to eat out, DON’T need Streaming Services, DON’T need places like storage facilities, DON’T need to buy a new car, DON’T need to live in that bigger apartment, and on, and on, and on.

    Start building a BUB and be prepared to abandon stuff you don’t need.

  9. Turk_Longwell says:

    Vote with your money. I cancelled Netflix back when they raised my old subscription 2 bucks. Only 2 bucks, but Netflix promotes too much BS.

  10. Night_Coder says:

    “better selection of movies” right… Last week I tried to watch a movie. I was able to go through 6 movies titles before they had one that I wanted to watch.

  11. creek_jumper says:

    it’s its
    come on Timcast, do better than the rest of the internet!

  12. pandusa says:

    With me,they hit the bricks at “Cuties”. It wasn’t cute it was sick.Family agreed on this one and made the sacrifice…Netflix had to go.