Netflix increases subscription prices across US and Canada

Netflix has announced that it is increasing the cost of subscriptions across the US and Canada effective immediately.

In the first price hike since October 2020, the streaming company announced changes to all of its various price plans.

The basic plan, which does not have HD streaming and only allows one stream on one device at one time increases for $8.99 (£6.57) to $9.99 (£7.30).

The standard plan, which allows for two devices to watch the streaming service at the same time, is increasing from $13.99 (£10.23) to $15.49 (£11.33).

Netflix’s premium plan will also now be $19.99 (£14.62)

Despite the price increase effective immediately, many Netflix customers will only see the change in the coming weeks, depending on their billing cycle.

Netflix have said subscribers will receive an email and in-app notification of the price increase.

Canadian customers will also see an increase to the cost of subscription. Though the basic plan will remain the same price, the standard plan is increasing to $20.99 CAD (£12.22) from $16.49 CAD (£9.60).

The streaming giant, which is behind shows such as Emily in Paris, House of Cards and Squid Game, has seen a recent drop in subscriber numbers. During the second financial quarter of 2021, it is estimated that Netflix lost around 400,000 subscribers in the United States and Canada combined.