Your In-Air Netflix Binge Will Soon Get More Expensive
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Netflix is getting slightly less chill, at least where monthly plan costs are involved.
The online streaming service increased the cost of all three of its monthly package prices. The new rates are effective immediately for new members, while existing members will see the price increase hit their bills over the next few months.
Under the new pricing, the Basic plan will increase by 12.5%, from $8 to $9 per month. The mid-tier Standard plan will increase to $13, an 18% increase over the previous rate of $11 per month. And the Premium plan will now cost $16 moving forward, 14% more expensive than the previous $14/month.
Netflix now boasts more than 58 million US subscribers, and 137 million subscribers around the globe. The price hike no doubt will help Netflix bridge some of the financial gap created by its investment in original content. Netflix anticipated $3 of negative free cash flow in 2018, and expects to see similar numbers for 2019. The company spent at least $8 billion in new content in 2018, according to the company’s own projections from 2017, and plans to take on an additional $2 billion in debt in 2019 to continue doing so.
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