The popular streaming service announced their subscriptions fees will increase.
Netflix informed subscribers that their rates are increasing. But they’re not worried…
The last hike of this type for binge watchers happened in October 2017, correlating to the popularity of the hit series Stranger Things. Subscribers stuck with the service as the value outweighed the cost. Netflix believes the same will ring true this time around.
The break down: new rates will range from Basic streaming at around $9 up to $16 per month for Premium. Their most popular Standard tier is jumping to $13 per month from $11. This is a 14% increase and marks the largest increase in the company’s history.
Response has been positive as NASDAQ showed NFLX up +21.70 today.
Netflix is confident that subscriptions will continue to grow in spite of this increase.