Your Netflix Subscription Just Shot Up in Price
For the past several years, Netflix has been rolling out a steady stream of expensive original content, from Dave Chappelle comedy specials (for which he was reportedly paid $20 million apiece) to $90 million feature film spectacles like 2018’s Bright.
It appears the bill now needs settling up. Variety reports that the service has announced a price hike for its 58.4 million subscribers.
Effective immediately, Netflix subscribers on the Standard plan with two HD streams will pay $12.99 monthly, up from $10.99; the Premium plan, which includes four HD streams and 4K options, is jumping from $13.99 to $15.99 per month; while the Basic plan, with one standard-definition stream, will increase by a dollar, from $7.99 to $8.99.
In a press release explaining the fee increase, Netflix stated that the price hike is partly a product of the company’s desire to “continue investing in great entertainment and improving the overall Netflix experience.”
Naturally, whether that represents value depends on whether users are enjoying their programming. Financially, the company spends more on content than comparable services like HBO and Hulu—by some estimates, as much as $13 billion in 2018.
Subscribers have a new season of The Punisher, Fyre: The Greatest Party That Never Happened, a documentary on the doomed Fyre music festival; and a new Ted Bundy documentary series, Conversations with a Killer: The Ted Bundy Tapes, to look forward to in the coming weeks.