Netflix says it is raising its prices by $1 to $2 for U.S. and Canada customers, less than a year and a half since its last price increase.
Netflix is raising prices for its video streaming customers in the U.S. and Canada, less than a year and a half since its last price increase, as competition from other streaming services increases.
Price increases are becoming more of a regular feature at Netflix, which is facing saturation in the U.S. market. Of Netflix’s 213.5 million subscribers, some 74 million are in the U.S. and Canada. It got an influx of global subscribers early in the pandemic, but is investing in video games as it looks beyond movies and TV for growth.
The price increase is effective as of Friday. Netflix will tell customers by email and inside the Netflix app before the new price is applied to them. Customers in New York, Alabama and Louisiana also got hit with a new local sales tax bill, which Netflix says was because of the addition of video games to the service.
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