Netflix is getting another price increase. As part of the streamer third quarter earnings results, announced that users of its $9.99 per month Basic plan will now have to pay $11.99, and those paying $19.99 per month for Premium will have to pay $22.99. Netflix’s $6.99 ad-supported plan will remain the same price.
Netflix last increased its prices in March 2022, raising the Premium plan to $19.99 and the Standard tier to $15.49. The streamer stopped offering its basic $9.99 ad-free plan to new and returning users in July, forcing them to shell out more to avoid ads. Prices for the Basic and Premium plans in the UK and France are also increasing, while the ad-supported plan remains unchanged.
“As we offer more value to our members, we occasionally ask them to pay a little more,” Netflix writes in its letter to shareholders. “Our starting price is extremely competitive with other streamers and, for example, $6.99 per month in the US, is much less than the average price of a single movie ticket.”
Earlier this month, The Wall Street Journal reported that the streamer would increase the cost of its subscription “a few months” after the Hollywood actors’ strike ends, and now it has happened even though the actors are still on strike. Last month, the Writers Guild of America ended its strike after reaching a deal with services like Netflix to provide streaming data, a higher minimum wage and better residuals.