Price increases ranged from 13% in the most basic plan to 18% for the mid-tier option.
The 2019 price increase was billed as the most substantial price increase in Netflix history. In other words, not only did North American customers hang on to their Netflix memberships in the face of rising prices and vaccine-powered coronavirus normalization, but many of them appear to have upgraded their service to higher-priced plans. For the 74 million current Netflix subscribers in the United States and Canada reporting segment, the new prices will take effect in phases over the next quarter, following a 30-day advance notice. Similar increases have taken effect in Canada. The new prices are already effective for new signups in the U.S. In every case, these changes work out to an 11% increase. Premium subscribers are now shelling out $19.99 per month instead of $17.99. The most popular mid-level service fee rose from $13.99 to $15.49 per month. The most budget-conscious plan now costs $9.99 per month for new subscribers, up from $8.99. The new price increases are remarkably consistent. Here's what the data from Netflix's previous price increases tells me. Will this 11% pricing change trigger a huge wave of canceled subscriptions, or should investors expect the top line to grow without any meaningful loss of subscribers? Digital media veteran Netflix ( NFLX -3.75%) just raised subscription prices across North America, marking the third price increase in three years.
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