While it’s pretty awesome to have access to thousands of TV shows and movies on any of your devices, we’re reaching a point where it’s more expensive to stream content than it is to just get a traditional cable box. Prices for different subscription services continue to rise, and Netflix is the latest offender. The streaming giant recently announced a price hike for its different plans, with Netflix Premium now coming in at $19.99 per month.
Netflix currently offers three different plans, all of which are seeing a 10% increase in the monthly cost. Basic is now priced at $9.99, up from $8.99 per month, Standard is $15.49, up from $13.99, and Premium is now $19.99, up from $17.99. It doesn’t seem as though there are any additional features being added as a result, which is rather disappointing. Perhaps even more frustrating is that Netflix is not offering any promotions that would “grandfather” subscribers into the older pricing.
Along with the updated price guide, Netflix confirmed that these subscriptions will immediately apply to new subscribers. However, if you are an existing Netflix subscriber, the company will provide an email notification “30 days before their price changes, unless they change their plan.” Surprisingly, it seems that the price changes are coming in waves, as the page states the prices will apply “gradually” for all current members.
While Netflix continues to try and entice new subscribers, while keeping existing subscribers happy with new exclusive content, the streaming service also continues to lose content to other streaming services. We’ve seen the likes of The Office and other popular movies and TV shows leave the service only to end up on the likes of Peacock, HBO Max, Disney+, and others. It’s getting to a point where you could easily end up paying more than $100 for different streaming services, just to have access to everything that you enjoy watching.
Seeing this price increase isn’t entirely unexpected, especially as Netflix continues to see competition from other services. But it is a bit disappointing to have to pay $20 per month just to be able to enjoy the latest Netflix shows and movies in 4K resolution.