Netflix Hikes HD, 4K Streaming Plan Prices

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Stranger things? In a move that has the Wall Street pleased, Netflix has hiked prices of its HD and 4K plans, two of the three plans available at the world’s most popular streaming service.

The company’s most popular plan, Standard, has been upped $1 to $10.99 a month. It allows users to stream two high-definition streams on two screens. While the Premium plan that provides access to both high-definition and 4K Ultra HD streams on up to four screens has seen a $2 uptick.

It now has a price tag of $13.99.

Netflix has retained the price of the Basic plan that provides standard definition streaming on one screen, and it remained unchanged at $7.99 a month.

This is what the company said in a statement:

“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.”

This somewhat expected move comes right around the time when the second season of the highly acclaimed Stranger Things is upon us. Netflix has attributed the price hike to increased spending on original content like this series and several others like this.

Netflix is on track to spend $6 billion on original content in 2017, and raise it to $7 billion next year.

The company also added a downloading feature for subscribers last year that allowed them to view their media offline.

This price increase will be rolled out to existing customers starting October 19, and unlike last price increases, Netflix will not provide an extended grace period for existing customers. They will have 30 days to accept these new plans, change them, or cancel.

For more details on these pricing changes, visit the official Netflix website.

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