Netflix is raising the price of its standard and premium subscription plans in the US, taking effect immediately.
Their standard plan was raised to USD 14 per month (up USD 1), while the premium plan goes up to USD 18 per month (Up USD 2). Its basic plan will remain the same at USD 9 per month.
The news was reported by The Verge, who says the price hike comes as Netflix looks to invest in more original content and product features. The streaming platform has been increasing its annual content budget every year, as more competition arise. One analyst even said that Netflix is underpriced as people get “a lot of value for not a whole lot of money” from it.
As many of you reading may ask, what about prices in the Philippines? Thankfully, it will remain the same for now. According to Netflix, price changes are on a country-to-country basis, and changes in the US does not mean prices will change globally.
In the Philippines, Netflix has a few competition in the streaming space, including HBO Go, Viu, iflix, YouTube, Crunchy Roll, etc. But none are as popular as Netflix.
At the time of writing, there are four subscription plans in the Philippines, priced as follows:
- Mobile – Php 149
- Basic – Php 369
- Standard – Php 459
- Premium – Php 549
Last September, the MTCRB wanted to regulating Netflix and other streaming services in the Philippines. In another statement, they later clarified that they just wanted the streaming service to “adopt” the local rating system.