That didn’t take long.
After reports surfaced of a Netflix price increase earlier this month, the streaming service raised prices on two of its tiers effective Wednesday for U.S. customers.
The company’s Basic plan, previously $9.99 a month, shot up to $11.99. The Premium plan, previously $19.99 a month, went up to $22.99. The new prices are already reflected on Netflix’s website. The company announced them in a letter to shareholders.
Two other tiers, the $6.99 Ad-supported plan and the $15.49 Standard ad-free plan, will remain the same price.
Netflix said the Premium tier offers its “best” video quality with resolutions of up to 4K plus HDR. It allows four concurrent streams. The Standard and ad-supported plans offer HD resolution and allow two concurrent streams.
Last year, Netflix raised prices on the Standard plan and introduced the ad-supported version. In July, it eliminated the Basic plan for new users; those who already had the plan were grandfathered in but will now have to pay more.
Customers in the United Kingdom and France will also see higher prices for Netflix, according to the company’s Oct. 18 letter to shareholders.
Paying more for streaming services has become a fact of life. Disney+ and Hulu hiked prices in 2022. Peacock, Paramount+ and Max also announced price increases earlier this year.
