US media-services provider Netflix has announced that it is increasing the price of subscription across all its tiers.
Marking the fourth instance over the last nine years that it has raised its prices in the US, Netflix has increased its subscription costs by at least 12% across all tiers.
As per the new prices, users opting for the basic plan will need to fork up $8.99/month, a full dollar increase over the previous value. Similarly, both standard and premium subscribers saw a two dollar increase, reaching $12.99/month and $15.99/month, respectively.
Nearly two decades on, the price for Netflix’s standard tier has increased by 63%.
The new prices will be rolled out over the course of the year, as per individual billing cycles.
Back in 2017, the media-services provider revealed that it had budgeted roughly $8bn for new shows and movies for the 2018 year.