As reported by The Verge, Netflix is announcing new pricing for US-based subscribers. Currently, the streaming service offers a three-tier plan. The entry-level Basic $ 9 plan allows only a single stream with resolutions up to 480p and does not change. Next Tier-Netflix’s most popular Standard has been raised from $ 13 to $ 14 per month. This plan allows up to two simultaneous streams with resolutions up to 1080p.
Finally, the premium tier goes from $ 16 to $ 18 per month. This layer allows up to 4 simultaneous streams with resolutions up to 4K.
Netflix recognizes the intensifying competition for entertainment that has arrived over the last few years. HBO Max, Disney +, and Peacock are just a few of Netflix’s major competitors, and the company wants to invest more in high-quality content and technical features that attract subscribers.
Netflix is investing more and more each year to retain its customers and continue to produce original content that attracts new content. With new competitors on the left and right, Netflix needs to keep producing hit originals if it wants to stay competitive. The company spent an estimated $ 18.5 billion on original content in 2020 alone.
The price increase will take effect immediately and will be reflected to existing subscribers starting in the next billing cycle.
