Here comes another Netflix price hike

Netflix is getting another price increase. As part of the streamer’s third quarter earnings results, it announced that users on its $9.99 per month Basic plan will now have to pay $11.99, and those paying $19.99 per month for Premium will have to pay $22.99. Netflix’s $6.99 ad-supported plan will stay the same price.

Netflix last raised its prices in March 2022, bringing the Premium plan to $19.99 and the Standard tier to $15.49. The streamer stopped offering its $9.99 Basic ad-free plan to new and relapsed users in July, forcing them to fork out more to avoid ads. Prices for the Basic and Premium plans in the UK and France are going up as well, with the ad-supported plan remaining unchanged.

“As we deliver more value to our members, we occasionally ask them to pay a bit more,” Netflix writes in its letter to shareholders. “Our starting price is extremely competitive with other streamers and at $6.99 per month in the US, for example, it’s much less than the average price of a single movie ticket.”

Earlier this month, The Wall Street Journal reported the streamer would raise the cost of its subscription a “few months” after the Hollywood actors strike ends, and now it’s happened even though the actors are still striking. Last month, the Writers Guild of America ended their strike after reaching a deal with services like Netflix to provide streaming data, higher minimum pay, and better residuals.