As was widely expected, Netflix is once again raising the prices of some of its plans. The company announced the changes in its third-quarter letter to shareholders.
Here’s the breakdown in the US:
- Standard with ads: Remains the same at $7 per month
- Standard: Remains the same at $15.49 per month
- Basic: This legacy plan is not available to new customers, but for those who are still using it the price is still going up to $12 per month. This plan limits subscribers to a single device at a time, and video is limited to standard definition.
- Premium: Going from $20 per month to $23 per month.
The price hike comes as Netflix is about to stream its first live sporting event – the Netflix Cup, which pairs Formula 1 drivers with PGA Tour professionals in a nine-hole event ahead of the Las Vegas Grand Prix in November.
Elsewhere in the world, the UK and France will also see price rises.
More changes are coming for Netflix’s global subscribers, too. Like the US, Netflix is expanding the ad plan and eliminating the basic option in Germany, Spain, Japan, Mexico, Australia and Brazil starting next week.
Netflix also said that the shift toward paid sharing – that is, preventing you from sharing your account with someone who doesn’t actually live with you – has resulted in a “low” number of cancellations, which “our Exceeds expectations”. The plan allows account holders to add an additional family for $8 per month, or convert them into full accounts of their own.
Netflix ended the quarter with a total of 247.15 million paid subscriptions worldwide, up nearly 11% from the previous quarter.
And don’t be surprised if you see more reheated content on Netflix. excited by the success of Suit – which Netflix says generated approximately 1 billion viewing hours globally – “we may have increased opportunities to license more hit titles to complement our original programming.” Netflix didn’t reveal what titles it might include, but it pointed to the continued success of major series Friend And Office, (not that Suit The success of those franchises on cable was nowhere near that.)