Netflix is increasing its subscription prices in the US – but only on the HD and 4K tiers, it's been revealed. Netflix's standard plan is increasing from $12.99 to $13.99, while its 4K Premium plan has gone up from $15.99 to $17.99 per month.
Netflix justified the move in a statement. "We're updating our prices so that we can continue to offer more variety of TV shows and films — in addition to our great fall lineup. As always we offer a range of plans so that people can pick a price that works best for their budget." Notably, its Basic plan, which only offers 480p video, remains locked at $8.99 per month.
The prices are already live for new subscribers, while existing subscribers will get 30 days of notice on price increases based on their billing cycles, according to Deadline (opens in new tab).
This is the first US price increase for Netflix since January 2019. Netflix seems to adjust its prices market-by-market – in September, the streaming giant adjusted some of its Australian prices (opens in new tab).
Is Netflix worth more than it already costs?
In some ways, it feels like Netflix's $8.99 entry-level tier has replaced its free trial, which ended earlier in October in the US. Keeping that price low does give people flexibility – if they're prepared to sacrifice image quality.
Netflix is still a leader when it comes to 4K content, though, and that's one area where it's a little underrated. Its major rival HBO Max launched with a single non-4K tier earlier this year for $14.99 per month – likewise, Peacock also launched without 4K.
Netflix has proved its value this year, offering original movies like The Trial of the Chicago 7, Extraction, The Old Guard and Project Power while theaters have been closed. Not all of them have been great, but there's no doubt that demand has been high for its originals in a year where everyone has been stuck indoors.
Most of the year's TV smash hits came from Netflix, too: Tiger King, notably, but also The Umbrella Academy season 2 and Ratched. It's not surprising that Netflix thinks it can get away with a price increase.