Netflix revealed Thursday that it will be raising the price for the premium four-stream 4K/HDR and standard two-stream Full HD service plans for U.S. customers shortly.
Under the new pricing plan, Netflix customers in the U.S. will be required to pay $2 more per month for “the best” positioned Premium plan, which increases 12.5% to $17.99 per month. The tier offers support for four simultaneous streams and up to 4K Ultra HD/HDR quality resolution.
Subscribers to the middle Standard or “better” service tier will pay $1 more per month (an 8% hike) to $13.99 to continue getting up to two-streams of Full HD (1080p/SDR) quality resolution.
Netflix’s “good” or Basic-level subscription plan will remain at $8.99 per month for a single 480p standard definition stream.
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New U.S. subscribers will be issued the higher rates beginning immediately (effective October 29th). The increases will follow in coming months for established U.S. customers.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” Netflix said in a statement. “We’re updating our prices so that we can continue to offer more variety of TV shows and films — in addition to our great fall lineup. As always we offer a range of plans so that people can pick a price that works best for their budget.”
Netflix is not announcing increases for other regions of the world at this time. U.S. subscribers are to be formally informed of the price increases directly through upcoming email notifications. In addition, notices of the increases will also be posted within the Netflix app 30 days prior to taking effect.
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By Greg Tarr
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