Ugh. Netflix is set to raise prices in the United States for the first time in three years.
Mashable has learned that the prices of the two higher tiers will be going up $1 and $2 per month respectively in November. Notifications of the price hikes will begin rolling out in two weeks — you’ll have a 30-day warning before the higher price starts hitting your credit card. By December, everyone is expected to be on the higher pay.
The Standard Tier, which lets up to two apps use the same account simultaneously, will be going from $9.99 per month to $10.99. The Premium Tier, which includes Ultra HD and up to 4 simultaneous streams, will go from $11.99 to $13.99. The Basic Tier (1 stream at a time, no HD) will stay at $7.99.
In a statement, Netflix said, “From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster.”
Despite major investment and growing subscriber numbers, Netflix’s price hike is probably being caused by the site’s insane content budget. CEO Ted Sarandos said earlier this year that Netflix plans to spend $7 billion on original content in 2018.
With the latest hikes, Premium accounts are now more costly than Hulu’s commercial-free plan ($11.99 per month). That said, Hulu and Netflix are still cheaper than the $15 monthly price tag on HBO accounts.
Netflix’s higher prices are on the heels of Stranger Things season 2’s release. The sequel — arguably Netflix’s most popular show — arrives October 27.