Wednesday, Netflix’s price for two of its most popular plans will increase as they are asking subscribers to part with some more money.
Netflix Price Hikes
The streaming service’s most expensive plan, Premium, will increase from $19.99 to $22.99 per month, and the primary, advertising-free plan will surge from $9.99 to $11.99 monthly.
TV Fanatic reported that two of the four services presented by the home of Stranger Things will remain the same. The standard plan with ads will stay at $6.99, while the ad-free equivalent will still set you back $15.49.
While we mostly paused price growths as we rolled out paid sharing, our overall approach remains the same a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more,” the company said in its third-quarter shareholder letter.
Nine Million Subscribers!
Netflix also announced Wednesday that it added nine million subscribers in the third quarter, which also boosted to contribute to year-over-year revenue.
The subscriber increase is interesting because the crackdown on password sharing and the rise of the cheaper ad-supported plan are paying off.