EXCLUSIVE Netflix raises monthly subscription prices in U.S., Canada

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A smartphone with the Netflix logo is seen connected a keyboard successful beforehand of displayed "Streaming service" words successful this illustration taken March 24, 2020. REUTERS/Dado Ruvic/File Photo

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LOS ANGELES, Jan 14 (Reuters) - Netflix Inc has raised its monthly subscription terms by $1 to $2 per period successful the United States depending connected the plan, the institution said connected Friday, to assistance wage for caller programming to vie successful the crowded streaming TV market.

The modular plan, which allows for 2 simultaneous streams, present costs $15.49 per month, up from $13.99, successful the United States.

Prices besides went up successful Canada, wherever the modular program climbed to C$16.49 from C$14.99.

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The terms increases, the archetypal successful those markets since October 2020, took effect instantly for caller customers. Existing members volition spot the caller prices successful the coming weeks erstwhile they person their monthly bills. The terms increases person not been antecedently reported.

"We recognize radical person much amusement choices than ever and we’re committed to delivering an adjacent amended acquisition for our members," a Netflix spokesperson said.

"We’re updating our prices truthful that we tin proceed to connection a wide assortment of prime amusement options. As ever we connection a scope of plans truthful members tin prime a terms that works for their budget," the spokesperson added.

The world's largest streaming work is facing the astir contention ever from companies looking to pull viewers to online entertainment. Walt Disney Co (DIS.N), AT&T Inc's (T.N) WarnerMedia, Amazon.com Inc and Apple Inc (AAPL.O) are among the rivals pouring billions into caller programming.

Netflix had said it would walk $17 cardinal connected programming successful 2021. The institution has not disclosed spending for 2022.

The U.S. terms of Netflix's premium plan, which enables 4 streams astatine a clip and streaming successful ultra HD, was accrued by $2 to $19.99 per month. For Netflix's basal plan, with 1 stream, the outgo roseate by $1 to $9.99 per month.

In Canada, the premium program roseate by C$2 to C$20.99, and the basal program was unchanged astatine C$9.99.

The United States and Canada is Netflix's largest portion with 74 cardinal customers arsenic of September 2021. Most of the company's caller maturation has travel from overseas.

Netflix's subscriber maturation slowed from a roar aboriginal successful the COVID-19 pandemic but rebounded with assistance from planetary improvement "Squid Game," a dystopian thriller from South Korea released successful September. Total planetary subscriptions reached 213.6 million.

The company's adjacent subscriber study is owed Thursday erstwhile Netflix posts quarterly earnings. Analysts task the institution volition study 8.5 cardinal caller sign-ups from October done December, according to Thomson Reuters I/B/E/S data, bringing its planetary subscriber basal to 222 million.

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Reporting by Lisa Richwine; Editing by Cynthia Osterman

Our Standards: The Thomson Reuters Trust Principles.

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