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Netflix raises prices for first time since January 2019

Added 10-30-20 09:57:04am EST - “Netflix is raising the price of its HD standard subscription by $1 to $13.99 per month, marking the first time the streaming giant has raised prices since January 2019.” - Thehill.com

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Posted By TheNewsCommenter: From Thehill.com: “Netflix raises prices for first time since January 2019”. Below is an excerpt from the article.

Netflix is raising the price of its HD standard subscription by $1 to $13.99 per month, marking the first time the streaming giant has raised prices since January 2019.

The 4K premium subscription will jump from $15.99 to $17.99, according to an announcement on Thursday.

“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 in a statement. “We’re updating our prices so that we can continue to offer more variety of TV shows and films – in addition to our great fall lineup. As always we offer a range of plans so that people can pick a price that works best for their budget.”

The increase comes after Netflix narrowly missed its projection for new subscribers in its Q3 earnings report.

The company still enjoyed a revenue increase of 25 percent amid the pandemic when compared to the same quarter in 2019, with revenue topping $6.15 billion and beating Wall Street estimates.

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