Netflix’s biggest subscription price hike to date, first announced for new subscribers in January, is currently roll out to existing users on their next billing cycles. The gradual rollout for existing Netflix subscribers began in January and will arrive for everyone over the next several months. This is the company’s fourth price increase since its inception.
The streamer notified some U.S. subscribers via email this week that the changes were slated to go into effect, CNN reports. Prices will increase by between 13% and 18%, depending on the plan. A basic plan that includes one screen will increase from $ to $9 per month; an HD standard plan — the most popular, including streaming on two devices — will increase from $11 to $13; and a 4k premium subscription (including a maximum of four screens) will now be priced at $16, up from $14.
Netflix previously said that raising subscription prices would help fund its ambitious content slate, having spent a whopping $8 billion on original and licensed content in 2018. The hikes will impact Netflix customers in Latin America and the Caribbean, but not Mexico and Brazil.
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The change appeared to be a welcome one — at least by investors. Netflix’s stock rose by 6% on the heels of the announcement earlier this year, and has been trading around that rate since then, according to CNN. The hike also arrives as a slew of major competitors are readying streaming services of their own, including Apple, Disney, and WarnerMedia.