Netflix confirmed that the OTT subscription-VOD service provider is raising the rate of its primary two-stream tier – by $1 per month – for some new customers in the U.S., Canada and Latin America.
For new U.S. subs taking the two-stream plan (which includes HD streaming), the new price is $9.99 per month, up from $8.99. Customers currently on that offering will keep the lower rate for a year.
In the U.S., Netflix’s single-stream (SD-only) tier will continue to sell for $7.99 per month, while its top-end, family-oriented plan (four streams with access to Netflix’s 4K library),will also stay at $11.99 per month.
Netflix reasoned that the fee increase comes as the service looks to expand its library of original and licensed content.
“To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America,” Netflix said in a statement. “As a thank you to existing Netflix members -- who aren’t already benefiting from a previous price guarantee -- we will maintain their current price for a year.”
Netflix ended Q2 with 42.51 million U.S. paid subs, and 66.61 million worldwide.