Netflix announced a price hike for all its subscription tiers, marking the first increase for its ad-supported plan. The move comes amid a broader trend of streaming service price increases outpacing inflation and the introduction of commercials.
The price of a Netflix subscription is soaring faster than the rate of inflation, with the entertainment streamer raising prices across the board, with some fees rising more than 15 percent. Even the ad-supported tier is getting more expensive, with Netflix charging its subscribers more for the joy of sitting through commercials. Netflix announced Tuesday that it is raising prices on all of its subscription levels effective the next billing cycle.
The ad-supported tier with commercials is increasing from $6.99 to $7.99 per month, or 14 percent, while the standard ad-free tier will go from $15.49 to $17.99 per month, or 16 percent. This marks the first time Netflix is raising the price of its ad-supported tier, which it introduced in 2022. Netflix’s latest price increases are part of an industry-wide trend that has seen the price of streaming subscriptions soar far faster than the rate of inflation. At the same time, streamers are introducing commercials as a way to boost their bottom lines. YouTube TV customers were livid after the streamer announced it would hike its prices by 13.7 percent in December, with a subscription now costing $82.99 a month, up $10 from $72.99. The price hike enraged many longtime subscribers, some of whom remember when the live TV streaming service cost just $35 a month ten years ago. The escalating cost of streaming services comes as consumers are facing a broader economic squeeze with inflation remaining stubbornly high.
Netflix Price Hikes Streaming Services Commercials Subscription Costs
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