Netflix raising prices as more people binge
The move comes almost two years after the last price hike.
LANSING, Mich. (WILX) - More people have been binge-watching Netflix during the pandemic and it’s now it’s going to cost a little more.
Thursday Netflix announced it is raising prices on both standard and premium plans. The company’s standard plan is up by $1 to $14 and a premium subscription will go up $2 to $18 a month.
The basic plan remains unchanged at $9 a month.
The last time Netflix raised prices was January 2019. Now there is more competition than ever with the addition of Disney+, launched on Nov. 12 last year.
According to a company representative, current subscribers will see the new pricing over the next few months, while new subscribers who sign up for standard or premium plans as of Oct. 29 will pay the higher rates immediately.
Netflix’s stock rose 5% following the news.
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