Whew, Netflix and chillay! Netflix is bumping up its prices!
Popular streaming service #Netflix announced that it will be raising its prices across its U.S. plans for new subscribers starting Tuesday (Jan. 15). Plans for existing customers will receive their increase over the next three months. What was once $10.99 for two HD streams will now be $12.99. The lowest priced deal of $7.99 for the non-HD plan will rise to $8.99, and the premium option with four screens in 4K will now be $15.99 a month, which was previously $13.99.
The new change comes amid Netflix needing to fund more original content. According to the Economist, last year Netflix spent between $12 million and $13 million on original programming. Some of its successful projects were “Bird Box,” “Roma,” and television series “Orange is the New Black” and “13 Reasons Why.”
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” a Netflix spokesperson said in a statement to USA TODAY. The company says users will be notified about the price increase by email and in the app itself.
This is the fourth time Netflix has raised its prices since its last price spike in 2017.