Watching your favorite TV show or movie on Netflix is getting more expensive despite the streaming service having added almost 9 million subscribers and generating more revenue than expected in the last quarter. The price increase takes effect immediately and will affect subscribers on the Basic and Premium plans in the US, the UK, and France.
Current Basic Plan subscribers will now pay $11.99 monthly in the US and £7.99 in the UK with those on the Premium paying $22.99 and £17.99 respectively. Tough luck if you are thinking of dropping down to the Basic plan because Netflix discontinued new sign-ups for the plan earlier this year in the US and UK.
This price increased follows soon after Netflix's decision to charge more in order to share your log-in details with people outside your household.
Netflix's decision to charge more is the latest addition to a long line of streaming providers increasing their monthly subscription fees. For the moment at least, the streaming service says that its Ad-Supported and Standard plans will remain at the same price but we are somewhat skeptical as to how long the status quo will continue.
