Netflix just announced another price hike that will raise their subscriptions prices beginning Jan. 15, due to an increase in talent and programming costs.
According to the Hollywood Reporter, the price for HD streaming on up to two Internet-connected devices at the same time will increase from $11 per month to $13 per month. Other price increases include, the single subscription price rising from $8 to $9, and the four-subscriber plan, which offers Ultra HD, going from $14 to $16 per month.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” a Netflix spokesperson told the magazine.
If you live in reality, you had to know this was coming. Netflix has to compete with the growing costs of the talent when competing against other streaming services like Hulu and Amazon.
Netflix has a few major projects on the horizon that are putting a dent in the wallet, including the third season of Stranger Things, the final season of Orange Is the New Black and Martin Scorsese’s The Irishman, not to mention the $100 million they had to dish out to keep Friends on their service.
This isn’t the first time their prices are being raised. Subscribers saw hikes to their service in 2014 and then again in 2017.