Netflix hikes prices on all its subscription plans

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FILE – This Oct. 11, 2011 file photo, shows the exterior of Netflix headquarters in Los Gatos, Calif. Netflix will still be there for fans of the old TV series “Friends,” but maintaining the relationship will come at a steep price. The New York Times reported that Netflix paid $100 million to keep showing “Friends” […]

U.S. (CBS) – Netflix has increased the price for all its subscription plans between 13 to 18 percent, with the most popular plan now costing $13 a month. It’s the company’s first price hike since 2017, and is expected to hit all 58 million U.S. subscribers.

Previously, Netflix had continued to offer a basic, $8-a-month streaming plan while raising rates on more comprehensive plans with better video quality and options to watch simultaneously on different devices. The cheapest plan will now cost $9 per month. A premium plan offering ultra-high definition will jump to $16 per month from $14.

“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” the company told CBS MoneyWatch in a statement.

The new prices will immediately affect all new subscribers and then roll out to existing customers during the next three months. Customers in about 40 Latin America countries where Netflix bills in U.S. currency will also be affected, excepting key international markets such as Mexico and Brazil.

Netflix had nearly 79 million subscribers outside the U.S. as of September.

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