Nation & World

Netflix raises prices again

Hike will be across all tiers

Netflix

Ellie Kemper stars in “Unbreakable Kimmy Schmidt,” one of the programs that is streamed by Netflix.
Netflix Ellie Kemper stars in “Unbreakable Kimmy Schmidt,” one of the programs that is streamed by Netflix.

Netflix is kicking off 2019 with higher subscription prices for its U.S. customers, with the most popular plan rising to $12.99 a month from $10.99.

The streaming service is hiking prices 13 percent to 18 percent across all three of its subscription tiers. The price of the most expensive plan, which offers Ultra HD picture, is rising to $15.99 a month from $13.99.

The least expensive plan will now cost $8.99 a month, up from $7.99.

Netflix said Tuesday the changes would be applied to all new members immediately and to all existing members over the next few months.

The Los Gatos, Calif., company reported that it had 58 million U.S. subscribers as of the end of the third quarter in September.

Netflix says existing members will be notified by email and within the Netflix app 30 days before the new prices are applied to them.

This marks the fourth time the company has raised its subscription prices. The last time was in October 2017, but at that time the price of its least expensive subscription was unchanged.

“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 company spokesperson said in a statement on Tuesday.

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For Netflix, the price increase will bring in more cash as the streaming giant continues to spend heavily on content. Last year, the company was expected to spend as much as $15 billion on original and licensed shows and movies.

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