We knew it would happen sometime in the near future, and Netflix yesterday made the official announcement regarding the price hike. The last time the streaming service had changed its Netflix plans was two years ago and it seemed about time for the company to make its plans pricier.

The price increase has been made for the two most popular subscription plans, while the basic one remains unchanged. The standard Netflix plan that offers HD viewing on up to two devices simultaneously will now cost $10.99 a month, $1 up from its previous cost of $9.99.

Similarly, the premium tier plan that used to cost $11.99 a month saw a rise of $2 and will now cost $13.99. The premium plan allows the users to watch content on up to 4 devices and in 4K UHD resolution. The basic plan, which doesn’t even offer HD viewing, will continue to cost $7.99 a month.

These changes will be applicable for all the new customers as well as the existing one. Netflix informed that the new plans will be applicable for the new customers immediately, while the existing subscribers will be informed 30 days in advance about the changes.

A similar change was also seen in the plans in Europe and UK. The Netflix standard subscription plan has been increased by a Euro, while the premium plans will be costlier by two Euros in the Europe. In the UK, the standard plan will now cost 50p more and will now cost £7.99 a month. The premium plan in the country saw a rise of £1 to £9.99.

You may choose to agree or not, but Netflix for sure has one of the largest catalogues of shows and movies. And bringing them all up online costs money, a lot of it. Netflix is regularly adding a bunch of new titles form its partners and is also investing in original shows to cut the content licensing cost and the hassle involved.

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