Netflix is raising the monthly subscription price

Netflix is raising its subscription price for the first time in 2 years. However, the prices are being raised for the Standard tier and Premium tier.

The Premium tier, which offers Ultra HD streaming for up to 4 users simultaneously and costs $11.99 normally, will now be priced at $13.99, $2 more than before. The Standard subscription, which offers HD streaming for up to 2 users at a time and costs $9.99 normally, will now be priced at $10.99 per month, a dollar more than before. The basic subscription’s cost will remain same at $7.99 per month.

Here’s what a Netflix spokesperson said in a statement to The Verge:

“From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster,”

Before today, Netflix increased the subscription price in 2015. Which means it is the first time in 2 years that Netflix has increased its prices again. The new pricing is currently valid for US only. But Netflix will soon enable the new prices on other countries as well.

Netflix is planning to spend a lot of money for the Netflix original content. According to Netflix chief content officer, the company will spend $7 billion on the original content in 2018.