Netflix, the world’s largest streaming service, has announced that it is raising its monthly subscription prices in the United States and Canada once again. With the news dropping late on Friday, January 14th, 2022, it seems like Netflix knew the overall reaction would be a collective groan: “Really? In this economy?”
The increased fees will go into effect immediately for new customers signing up for Netflix, while existing subscribers will see their bills go up in the coming weeks. The last time that Netflix hiked up its rates like this was in October 2020.
How much will your Netflix bill be increasing per month in 2022?
The price increase is based on which plan you are currently subscribed to or may sign up for in the future. The plan prices are going up $1-2 dollars.
If you have basic plan in the United States, with the ability to stream one screen at a time, the price is changing from $8.99 to $9.99 a month, an increase of $1. If you have a standard plan, which allows for two simultaneous streams, the price is changing from $13.99 to $15.49 per month, an increase of $1.50. If you have a premium plan, with four simultaneous streams and ultra HD, the price is changing from $17.99 to $19.99 per month, an increase of $2.
According to Reuters, Canadian customers will also see some price changes. “In Canada, the premium plan rose by C$2 to C$20.99, and the basic plan was unchanged at C$9.99.”
How much more will you pay for Netflix per year now?
Supposing a full year of these new prices, here’s the difference versus your old Netflix bill. Basic plan yearly costs increase from $107.88 to $119.88. Standard plan costs increase from $167.88 to $186.88. And premium plan yearly costs increase from $215.88 to $239.88.
Why is Netflix increasing its prices in 2022?
Netflix says that these price increases are necessary in order to keep their entertainment offerings competitive in an increasingly cluttered streaming environment.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokeswoman said, per 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.”
While it’s understandable that Netflix wants to stay on its toes in a market that now includes streaming services like Disney+, Hulu, HBO Max, Apple TV+, Peacock, Paramount+, and many more, it’s unfortunate that consumers are the ones who have to see their bottom line change at a fraught time for the world—and a time when we care about having safe, streaming media to watch from the comfort of home.
How do you cancel your Netflix account or change your current subscription plan?
If you have to cancel Netflix as a result of these increases, you can do so at netflix.com/cancelplan, or if you would like to change your current subscription, you can do by logging into your Netflix account, clicking “Plan Details,” then selecting “Change Plan.”
(image: Netflix)
