Your Netflix subscription is about to get a bit more expensive! The company is raising its rates by prices by 13 percent to 18 percent.
The standard Netflix subscription, which had cost $11 per month, will now cost $13 per month. Its premium plan, which doubles the number of screens you can watch Netflix on , will now set you back $16 per month, up from $14. Netflix’s basic option is increasing from $8 per month to $9 per month.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” a Netflix spokesperson told The Wall Street Journal.
The price hikes will be applied to all existing members over the next few months and ew members will be charged the new price immediately.
Assuming there’s not a mass exodus of subscribers, analysts project Netflix will see around $1 billion in additional top-line revenue in 2019 from the rate hikes.