Inflation is everywhere, even inside your television, pad, phone or however you watch Netflix, if you do.
Netflix announced Friday that it is raising rates for all three of its streaming plans, the Wall Street Journal reported.
“We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options,” a Netflix spokesperson said in a statement.
The basic plan will go from $8.99 to $9.99, the standard plan will jump to $15.49 from $13.99 and the premium plan will see the largest increase from $17.99 to $19.99 – an 11.1% increase. These rates do not include any local taxes that may be added to the fee.
The new pricing will be immediate for any new subscribers, but existing customers will be given a 30-day notice before their rates go up – unless they change which plan they are on.
Many cord-cutters, tv watchers who choose to avoid expensive cable and satellite plans, have Netflix and Amazon.com’s Prime video as key parts of their entertainment selection along with a live TV offering like AT&T’s DirectTV Stream or Hulu.
Viewers who might have had a DirectTV premium pack (Satellite) that included live TV, sports, all the premium channels could easily spend almost $300 a month. Streaming TV with premium channels comes in under $100 per month so even adding in Netflix at $20 and something like Disney+ for under $10 there are savings to be had even with the Netflix hike. Even more savings could be had by dropping subscription services like HBOMax, Disney+ until the next season of a favorite show comes out.
Netflix has raised its subscription prices six times with the last increase in 2020.
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