Netflix increased the price of both its basic and premium plans in the U.S. Wednesday, as well as in France and the U.K.
The cost of the streamer’s ads ($6.99 per month in the U.S.) and standard ($15.49) tiers remain the same in those territories.
“While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more,” Netflix said in a letter to shareholders, which accompanied its Q3 financial results.
Netflix is increasing the price of its basic plan (which does not include ads, but is no longer available to new subscribers) to $11.99 and premium (which offers streaming in Ultra HD and use of up to six supported devices at once), to $22.99, up from $9.99 and $19.99, respectively.
In the U.K., basic plans will now cost £7.99 per month, and premium will run £17.99, while in France those plans are rising to 5.99€ and 19.99€.
Netflix says “our starting price is extremely competitive with other streamers and at $6.99 per month in the US, for example, it’s much less than the average price of a single movie ticket.”
The price increases were announced Wednesday as Netflix reported its third-quarter financial results. In the period from July 1-Sept. 30, the streamer saw its total global paid subscribers rise by nearly 9 million.
More to come…