Seeking money for programming, Netflix raises monthly price to $15.49

Robert Besser
17 Jan 2022, 10:59 GMT+10

Netflix has raised its monthly subscription price from $13.99 to $15.49 per month in the United States.
Company officials said the increase was necessary to pay for new programming due to increased competition in the streaming entertainment industry.
Meanwhile, shares of Netflix increased nearly 3 percent to $533.84 on Nasdaq and closed at $525.69 following news of the price rises.

LOS ANGELES, California: Netflix has raised its monthly subscription price from $13.99 to $15.49 per month in the United States.

Company officials said the increase was necessary to pay for new programming due to increased competition in the streaming entertainment industry.

In Canada the standard plan rose to C$16.49 from C$14.99.

Meanwhile, shares of Netflix increased nearly 3 percent to $533.84 on Nasdaq and closed at $525.69 following news of the price rises.

This is the first Netflix price increase since October 2020, and takes effect immediately for new customers.

Existing members might see the new prices reflected in their next monthly bills.

"We're updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always, we offer a range of plans so members can pick a price that works for their budget," a Netflix spokesperson said.

Netflix faces increased competition, including from Walt Disney Co, AT&T Inc's WarnerMedia, Amazon.com and Apple, who are pouring billions into new programming.

Netflix earlier said it would allocate $17 billion for programming in 2021.

Other new pricing went into effect for Netflix premium plan, which increased by $2 to $19.99 per month. within the U.S.

Netflix reported having 74 million subscribers in the United States and Canada, as of September 2021.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Colorado Star.

More Information

53 ℉

Light Rain in Aurora/Buckley Afb

International Business

Section

EU drawing up AI regulations fearing power of artificial intelligence

BRUSSELS, Belgium: EU tech chief Margrethe Vestager has said that a draft code of conduct on artificial intelligence (AI) could ...

Russian brands replace Western clothing after invasion of Ukraine

MOSCOW, Russia: After a turbulent 15 months of store closures and declining demand, Russian designers and brands are assisting the ...

In first visit in 3 years, Elon Musk visit's Tesla plants in China

BEIJING, China: On his return to China after a three year absence, which is his company's largest production hub, Tesla ...

Nvidia joins ranks of major US businesses valued at over $1 trillion

SANTA CLARA, California: As investors piled more capital into Nvidia, the chipmaker that has become one of the biggest winners ...

Washington coordinates 14-country supply chain agreement

WASHINGTON D.C.: The U.S. Commerce Department has said that trade ministers from 14 countries have taken part in the US-led ...

Assam: Tea producers call for collaborative action from all stakeholders to overcome industry challenges

Guwahati (Assam) [India], June 4 (ANI): The Tea Association of India representing tea producers in Assam and West Bengal called ...

US

Section