Why is Netflix increasing prices again in 2020?

Best Answer: Netflix prices are being increased so the company can continue to produce and offer more TV and films for the customer.

It’s happening again, Netflix is increasing prices again in 2020 in the U.S., at least. Thankfully, though, the prices of the monthly subscription are not rising dramatically. No matter how small the price increase of any streaming platform, though, people will not be happy. Here’s the lowdown on why Netflix increasing prices again in 2020 is happening as well as what the price increase means for subscribers.

Why is there another Netflix price increase in 2020?

Netflix increasing prices again

Netflix is increasing its monthly subscription cost again in 2020. Given the year everyone has had, it’s safe to say the news has not gone down well. Despite this, though, the price increase in the U.S. is not a big one. Netflix, too, has given its reasoning behind the raising of subscription costs.

Netflix prices are being increased so the company can continue to produce and offer more TV and films for the customer. A Netflix spokesperson has explained that prices are going up in the U.S. so Netflix “can continue to offer more variety of TV shows and films.”

Ultimately, Netflix needs to continue its current slate of expansive and broad creation. Creating as much new content as Netflix does will cost a lot of money on the creative side, of course. The better and more options available on the platform, the more it is likely to cost.

How much is the Netflix price increase?

Netflix has risen its standard monthly subscription cost in the U.S. to $13.99 a month. This is an increase of one dollar a month. The price of the basic package remains the same at $8.99 a month. The new Netflix prices in the U.S. are as follows:

  • Basic plan: $8.99 (no change)
  • Standard plan: $13.99 (up from $12.99)
  • Premium plan: $17.99 (up from $15.99)

Speaking to The Verge, a Netflix spokesperson explained that the price increases in the U.S. do “not influence or indicate a global price change.” Recently, though, Netflix upped its monthly subscription costs in Canada, too.

The Netflix price increase is allowing the company to make as much new and, hopefully, quality content as it can. This includes the Dragon’s Dogma anime, The Cuphead Show, and an incoming Splinter Cell anime to name a few ongoing projects.