Netflix has been a saving grace for many of us this year but its monthly prices are set to rise again by a few dollars.
From September 17, Australia’s biggest streaming service will be raising the price of its cheapest two subscription tiers.
The basic plan will increase by a dollar to $10.99 per month while the standard plan is now $15.99, up from $13.99. The top tier, Netflix’s premium plan, will stay at $19.99 per month.
The pricing changes are immediate for new subscribers but existing users will be affected from their next billing date.
The basic plan still includes a single simultaneous stream in standard definition while the standard plan offers two streams in high definition.
For the premium plan, you’ll get an upgraded 4K boost, if the content offers it, as well as four simultaneous streams for $19.99, making it the most cost effective if shared among four paying people.
Lifehacker Australia asked Netflix about the reasoning behind pricing changes and it said it would help the streaming giant to invest in more content.
“We know Australians have never had more choices when it comes to entertainment, and we’re more committed than ever to delivering an experience that exceeds their expectations,” a Netflix spokesperson said in a statement.
“Members tell us how much they value the breadth and variety of catalogue, and we’re updating our prices so that we can continue to invest in more shows and films. As always, there’ll be different plans so that people can pick a price that works for their budget.”
Netflix last updated the cost of its premium offering back in October 2019 but the recent changes will affect many more users after the streaming service experienced a surge during the pandemic.
In July 2020, Roy Morgan released a report detailing just how much Netflix’s Australian audience had grown during lockdown.
In the three months between February 2020 and May 2020, Netflix had gained a further 1.1 million users making its total Australia user base nearly 13.3 million.
But other streaming services had since been introduced into the market, experiencing huge growth and chasing up with Netflix’s lead.
Notably, Stan increased its subscribers by 20 per cent, hitting a total of 4.3 million users while Disney+, introduced in November 2019, came close to achieving 2.5 million users — a nearly 40 per cent increase since February despite only having been launched six months prior.
Stan’s pricing tiers offering customers an option of $10, $14 or $19 a month while Disney+ offers a flat $8.99 per month. Netflix’s price increase means it now sits atop of the other services as one of the country’s most expensive.