Netflix is ​​facing a lot of competition these days, which means that it needs to find new ways to make more money. You might think all of their blockbuster would suffice, but no. Now, according to CNN , Netflix will raise its subscription prices. The broadcast giant is increasing prices on its standard and premium plans for US customers. The Standard plan is currently $ 14 per month, which is $ 1 more than last year. The premium subscription is now $ 18 a month, up from $ 2. However, the basic plan remains at $ 9.

A Netflix spokesperson wrote in a statement: “We understand that people have more entertainment options than ever before, and we are committed to providing a better experience for our members.” “We are updating our rates so that we can continue to offer more variety of TV shows and movies.”

McIntern stated that “the price increase was a matter of time.” CNN Business. “It shows that they believe that people will be willing to pay more for the service because the epidemic is disrupting content production making their huge library more valuable.” With Disney +, Amazon Video, Apple TV, Hulu, and HBO Max rapidly breaking into Netflix’s sacred streaming base, it makes sense why the giant is increasing prices. However, let’s see if that hurts their subscription numbers.