Just over a year after raising the prices of its standard and premium plans, Netflix is raising them again. Starting today, for users in the US and Canada, subscriptions increase by around 11% for each tier and its premium package now costs 4x Apple TV+.
Netflix updated its prices on its website today. Notably, the premium plan with 4K streaming jumps the most (in dollars) from $17.99 to $19.99/month (via CNBC).
Meanwhile, the standard plan drops from $13.99 to $15.49 with the basic plan which only offers access from one device at a time dropping from $8.99 to 9 $.99.
The latest price increase marks the third rise in about three years and today’s news has sent Netflix stock up almost 3% at the time of writing.
Netflix says on a help page:
These prices apply to new members and will gradually take effect for all current members. Current members will receive an email notification 30 days prior to the price change, unless they change their plan.
9to5Mac’s point of view
As we noted last time, while Apple TV+ has extended free trials over the past few years to bolster its fledgling service’s subscriber base, Netflix’s price hike once again shows its dominance in the streaming space.
With Apple TV+ at $4.99 per month, Netflix’s premium plan is now 4 times more expensive. Of course, Netflix and Apple TV+ are very different streaming services in their nature and maturity, but the comparison is interesting because it highlights Netflix’s market share, large catalog and customer loyalty through price. that he is able to charge.
While Netflix would have around 30% market share in the streaming market, Apple TV+ would have gained around 3%.
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