Netflix rises prices in the US. Better check your subscription plan
12:46 PM EDT, October 19, 2023
Netflix's subscription prices are increasing. One of the largest streaming platforms is introducing price hikes in the USA, UK, and France. All the biggest competitors had already raised their prices earlier.
In the latest financial report for the third quarter, Netflix, a leading player in the streaming industry, revealed that from Wednesday its ad-free premium package in the United States will increase by $3 per month. This means its price will be $22.99 - reports CNN Business.
In a similar way, the price of the basic plan for one account will also increase to $11.99. All other plans, including the basic level with ads for $6.99 per month, will remain at the same price - reports CNN Business.
Price hikes for some subscriptions will also be introduced in the United Kingdom and France, which the platform previously reported. In the third quarter, Netflix had 247 million paid subscribers worldwide.
Increases in the market
The last time Netflix raised its prices was in January 2022. Since then, all the biggest competitors have raised their prices - highlights CNN Business.
Disney+ raised its prices by $3 per month in August - for the second time this year. The company also increased Hulu's prices. Meanwhile, Max, owned by parent company CNN, Warner Bros. Discovery, raised its prices in January 2023 by $1 per month - it was the first price increase.
