Video streaming service raises standard plan by one dollar per month for new subscribers.
As Netflix continues to add new original programming to its streaming lineup, the company announced today the cost of its standard plan, which will allow for two simultaneous streams, will cost $9.99 per month for new subscribers, $1 more than the previous monthly price.
The announcement, cited on wsj.com, said that the company does not plan to increase the cost of its other plans, including the basic at $7.99 that allows for one stream, or the premium plan at $11.99, that allows up to four simultaneous streams.
Through an e-mail, a Netflix spokesman said, “To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America. As a thank you to existing Netflix members — who aren’t already benefiting from grandfathering — we will maintain their current price for a year.”
The company announced a similar increase in Europe back in August, which amounted to raising the price of its service about one euro. Netflix last raised the price for new customers in May of 2014. The announced increase will effect customers in the United States, Canada, and Latin America.
Netflix’s $9.99 service is less expensive than a plan offered by Hulu, with its no-commercial plan priced at $11.99 per month, although Hulu still offers a $7.99 plan that includes advertising. Amazon.com has video streaming within its Prime shipping membership, called Prime Instant Video, and it is included in the $99 per year membership fee, which calculates to $8.25 monthly.
Netflix has been spending a lot of money to develop original programming for its customers as well as expanding their global rights for content. The service, which includes original programming, such as “House of Cards”, “Orange is the New Black”, and “Narcos”, is being migrated into new markets and the company says it has plans to make the service available in 200 countries by the end of next year.