Los Angeles, CA (Variety) — Here comes another price hike for Netflix customers in the U.S.: The streaming giant will hike the price of the Standard two-stream HD plan, its most popular package, by about 8% — going from $12.99 per month to $13.99.
In addition, Netflix's Premium tier (with four streams) is going up by $2, from $15.99 monthly to $17.99 for U.S. customers. The price of the company's Basic plan (with a single non-HD stream) will remain at $8.99 monthly.
Current subscribers will see the new pricing in the coming weeks with the start of their next billing cycle, while new subscribers who sign up as of Oct. 29 will pay the higher rates.
On Netflix's earnings interview last week, COO and chief product officer Greg Peters declined to comment on when Netflix may decide to increase pricing in various markets. The company earlier this month hiked Netflix’s Standard HD two-stream plan in Canada from $14 to $15 (Canadian).
There’s no algorithm to decide when the company increases pricing, according to Peters. “We do an assessment: Do we believe that we’re really delivering more value to members?” he said, adding that “a North Star we hold close to our … — Todd Spangler/@Variety