Netflix is about to get pricier. The grandfather of all streaming services will see a price increase of $1-$2 a month starting in May, per a report from Variety. The Standard plan, which is the most popular, will go from $10.99 to $12.99. The Premium plan, which allows for 4K streaming, jumps from $13.99 to $15.99, and the Basic plan, which streams without HD, will go from $7.99 to $8.99 — a first-ever increase for that tier.
The price increase was first announced back in January, which will affect U.S. customers, as well as any customers using U.S. currency. At the time, the announcement pushed the value of Netflix stock up about 5%.
The company last increased prices in late 2017, but in the year-plus since then, competing platforms like Amazon Prime and Hulu have upped the ante by producing more of their own original content, as well as striking deals for exclusive rights to stream content from other networks and studios.
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