Netflix Increases Subscription Prices Ahead of ‘Stranger Things’ Return
Hyped for the new season of “Stranger Things”? It’s going to cost you a little bit more.
Netflix quietly increased its prices for two subscriber tiers starting in November — about one week after the hit show comes back for its second season on October 27. (Cheapskates should binge quickly.)
The basic plan is staying at $7.99 a month, but the “standard” package that lets users watch on two screens at the same time is moving from $9.99 to $10.99 a month.
And the “premium” plan — which bumps up access to four screens and offers ultra HD — is jumping from $11.99 to $13.99 a month.
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If you head over to Netflix to sign up, you’ll already see the new price tiers reflected on its site.
It’s the first price change for Netflix since 2014. Most users won’t flinch at the modest increase in prices, and the incremental revenue will add up for the streaming service. With more than 50 million subscribers in the U.S. alone, Netflix will rake in about $100 million more each month domestically.
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The price bump coincides with Netflix continuing to shell out money hand over fist for content. Netflix Chief Content Officer Ted Sarandos recently said the streaming giant will be spending $7 billion on content next year, after spending $6 billion in 2017.
In comparison to its main competitors, Netflix is still positioned in a sweet spot between HBO GO’s $15 a month plan and Hulu’s $11.99 commercial-free option.
Wall Street seems to love the new prices, with shares of Netflix darting up 4 percent to new all-time highs of about $191.85.
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