Netflix Is Raising Prices On Some (But Not All) Of Its Plans Amid Reports Of Strong Quarterly Growth

Netflix didn’t have a great 2022. The streaming giant that started it all finally started shedding subscribers in droves. Attempts to crack down on password sharing and introduce an ad-supported version got off to rough starts. But the company soldiered and their reward has been two encouraging quarterly reports in a row. On an unrelated note, they’re raising rates again.

Per Deadline, Netflix revealed that they’re jacking up some — but not all — of their subscription prices, effective immediately. Again, it doesn’t affect everyone — only those in the U.S., the U.K., and France. It also doesn’t affect every plan. The Standard one ($15.99) and the one with ads ($6.99) will stay the same.

But those with Premium — which allows things like downloads on six devices and the option to add two extra members who don’t live with you — will see their plan shoot up from $19.99 to $22.99. Likewise, the Basic plan — which allows one user and which is being phased out, with no new subscribers allowed — will increase from $9.99 to $11.99.

The rate increases come the same day as Variety reported that Netflix had a great Q3. The last four months has seen the streamer gain a whopping 8.76 million new subscribers, bring the total to 247.15 million. In a letter to shareholders, Netflix brass credited their ad plan, with membership up 70% from the previous quarter.

The number is up from their also successful Q2, when paid subscribers rose by 5.89 million, bringing the total up 8% from the previous year.

Of course, while the WGA strike was resolved last month, SAG-AFTRA is still out on the picket lines, meaning Netflix is still unable to make new scripted content to entertain those new subscribers. Then again, they can still exhume older stuff, like the wildly popular Suits, which features a semi-member of the Royal Family.

(Via Deadline and Variety)