Further proof that nothing in this world is sacred anymore, Netflix has announced it will increase the price of its streaming service pretty much immediately.
The hiked rates will apply for new subscribers literally right now. Current subscribers will be notified of the increase by email over the next few weeks.
Anyway, it’s really not that bad. Here’s the damage:
Basic plan: $9.99 a month ($1 more). One stream at a time, no HD.
Standard plan: $13.99 a month ($3 more). Two screams at a time, plus HD.
Premium plan: $16.99 a month ($3 more). Up to four simultaneous streams, plus ultra HD 4K.
So, really, one less PSL a month to balance your budget.
Netflix says it will use the extra cash to produce new series and movies in addition to improving the platform. Pretty much exactly what you’d expect.
So, why higher prices? The company cites growing competition in the Canadian marketplace, including a souped-up Crave by by Bell Media as well as an offering by Disney next year. To be honest, it will really just come down to who can produce and secure rights for the wildest superhero remakes.
The price hikes are the biggest to date for Netflix, which is expected to have almost 14 million subscribers in Canada next year.