Netflix announced it is raising its prices again.
On Friday, the company said it is raising prices on its standard plans in the US and Canada.
The subscription price for the standard plan in the US went up by $1.50 to $15.49. The basic plan went up $1 to $9.99 and the premium plan went up $2 to $19.99
In Canada, the price for Netflix’s standard plan also went up $1.50 to $16.49 Canadian. The premium plan went up $2 to $20.99 Canadian. Its basic plan was unchanged.
The last time the company raised prices was in October 2020. When asked to explain its decision, Netflix released an identical statement to the one it released last time prices went up.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson said. “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget.”
Netflix’s stock rose roughly 2% following the news, reported CNN.
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