At a Glance:
- Netflix increases monthly subscription prices by $1 and $2 in the U.S. and Canada.
- Netflix plans are more expensive than HBO Max & Disney+.
- The changed prices take effect almost immediately for new members.
One of the biggest streaming services, Netflix has recently announced that the monthly subscription prices will be increased for the members of the U.S. and Canada.
There is a brimming competition among the streaming platforms that have made video streaming a difficult space. Netflix thus decided to surge the monthly subscription prices for the U.S. and Canada with $1 to $2 depending on the type of subscription plan.
Netflix vs other Streaming platforms
New subscription rates will be higher than HBO Max and Disney+. Now, the streaming subscription for a month will rise from $13.99 to $15.49/ month in the U.S. in comparison, the standard plan of Netflix now costs more than HBO Max and Disney+. HBO Max’s annual subscription costs $11.99/ month whereas the Disney+ subscription costs $7.99/month or $79.99/year.
For Canada, the prices of the standard plans rose from $14.99 to $16.49 (Canadian dollars). Furthermore, the premium plan will now cost $20.99 and the basic plan remains unchanged.
The reason behind the surge
A spokesperson states that the company understands that audiences now have more entertainment choices and Netflix is committed to delivering an even better experience for its members. The spokesperson further added, “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget.”
The changed prices will take effect immediately for the new subscribers of Netflix. For the existing members, the new prices will update in the next bill cycle.
