As Netflix is bringing several high profile television shows in the coming months, the costs of production have understandably gone higher. In order to support the rising cost of the producing as well as to support the existing user base, the streaming giant has decided to increase prices of the most popular plan in the U.S. to $10.99.
If you didn’t know, the streaming giant currently has the biggest budget in television as it is reportedly planning on spending over $6 billion on contents this year alone as other streaming services including Amazon Prime, Hulu and YouTube have stepped up the competition. Moreover, Facebook currently has several projects in the work which can make Netflix’s domination in the streaming market difficult to hold onto.
As a result, the company now will charge $10.99 instead of $9.99 for a plan from November. The plan allows up to two people to watch programs on different devices. As for next plan, its price will rise to $13.99 from $11.99. However, the basic plan which goes for #77.99, will not see increased prices.
Despite the changes in the U.S. market, international audiences won’t be seeing any difference in the price as the company is seeing potential growth in the international market. According to Netflix, users will be informed about the change of pricing in the coming weeks.
Featured Image: Flickr/Elliott Brown