Cost increases for a streaming service? Groundbreaking. Netflix might have added a reported 9 million subscribers in the latest business quarter, but its gain is your loss (of an extra two dollars): The streamer revealed that certain subscription tiers will be seeing yet another price increase. In a letter to shareholders, Netflix explained, “As we deliver more value to our members, we occasionally ask them to pay a bit more,†adding that its subscription-tier costs are “less than the average price of a single movie ticket.â€
So whom will the price increases affect? Customers subscribed to the Standard With Ads and Standard plans will see no change in their pay cycles, but customers with Premium subscriptions will be charged $22.99, a two-dollar increase, starting today. Those who have been grandfathered into Netflix’s Basic plan, now defunct for new subscribers, will also see a jump in cost from $9.99 to $11.99 a month. So, you know, just the cost of a movie ticket. Unless you’re a Netflix Premium subscriber because that costs more than a ticket to The Eras Tour movie.