Get ready to pay even more for Netflix's popular plans

Netflix‘s rather cheery quarterly shareholder letter is bad news for some consumers. The streaming platform is raising the price of two of its plans starting today.

While the Ads and Standard tiers remain $6.99 and $15.49, subscribers to the Basic and Premium offerings will now pay $2 and $3 more monthly. Find a breakdown of the new Netflix pricing structure below.

For those in the UK and France, pricing for Ads and Standard tiers will remain the same, but Basic (£7.99, €10.99) and Premium (£17.99, €19.99) also see increases.

Netflix price increase: Why now?

While rumors hinted at an incoming increase, reports indicated that Netflix would act months after resolving the writers’ strike. However, it seems that the streaming giant, which is reaping the rewards of tough choices, is confident to move sooner rather than later.

Netflix says its account sharing crackdown has buffed its subscriber numbers. “The cancel reaction continues to be low, exceeding our expectations, and borrower households converting into full paying memberships are demonstrating healthy retention,” the company notes in the letter. It has also ballooned its global subscriber base to 247.15 million.

Notably, the Ads tier is singled out as a significant growth driver. Netflix claims that the most affordable tier accounts for nearly a third of all subscribers in the countries it offers, and axing the Basic plan in some regions has increased adoption of the lowest and Standard plans. As a result, it plans to nix the Basic tier in several additional countries, including Australia, Japan, Germany, and Spain. The Ads tier is also set to gain a few more tricks, including the ability to download content for offline viewing, to incentivize those to join the lowest wrung.

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