Don’t Look Up — at the rising cost of your bills
It’s hard to keep track of all those streaming services you’ve signed up for, and for most people, Netflix likely remains the default. In addition to a library containing thousands of shows and movies, the company also produces an ever-growing library of original content — an expensive undertaking, to say the least. Netflix has raised its fees several times throughout the last few years, and as we head into 2022, subscribers in the US and Canada are in for another rate increase.
Netflix’s new US pricing scheme — its first price hike since October 2020 — bumps the standard plan to $15.99, while its premium 4K tier gets boosted to a whopping $19.99. For those on the SD-only Basic plan, you’ll see your monthly bill rise to $9.99 instead. These increases range from $1 to $2 per month, and while that might not sound too steep, it could make enough of a difference for some to drop down from a more premium plan to a lesser one. Meanwhile, Canadian users also see some changes with this move, as Netflix increased its standard plan by $1.50 to $16.49 CAD and the premium offerings up to $20.99 CAD. These prices are already live for new subscribers and go into effect for current members no less than 30 days after an email notification has been sent to their inboxes.
A Netflix spokesperson issued this statement to Reuters: “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.”
Netflix continues to raise its prices in order to continue funding its ambitious original content, both as producer and distributor. Over the last year, it unveiled some of the biggest hits of 2021, including Squid Game, Bridgerton, Sex Education, The Witcher, and more. The platform has held out a steady user base despite its frequent price hikes, all while focusing on lowering subscription costs in growing markets like India.
There’s a bit of good news today if you’re a T-Mobile subscriber. If you pay for Netflix through your cell phone bill, you won’t experience any price hikes. T-Mobile continues to cover the additional expenses on behalf of its customers, as it confirmed shortly after the announcement. Unfortunately, if you aren’t on T-Mobile, it’s time to pay a little extra to access your favorite shows.
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