Netflix has faced several legal challenges and business deals recently. They recently lost a case in Italy, where a court ruled they illegally raised prices over the past seven years. This means Netflix may have to issue refunds to customers, potentially over $500 for long-time subscribers. On a brighter note, Netflix received $2.8 billion after dropping its attempt to acquire Warner Bros. Discovery, and received that amount as a breakup fee.
Netflix has announced another price increase, raising its monthly fees for the second time in a little over a year. The ad-supported Standard plan will now cost $8.99, the ad-free plan is increasing by $2 to $19.99, and the Premium plan, which includes features like multiple device access and HDR, is also going up by $2 to $26.99 per month. Despite rising costs for everyday expenses, Netflix believes most customers will continue their subscriptions. The popular streaming service currently has over 325 million subscribers worldwide.
Netflix offered a statement to Variety:
We’re still committed to offering plans and pricing options for everyone. As we add more great content and improve the overall experience for our members, we’re adjusting our prices to allow us to keep investing in quality entertainment.
Netflix’s History of Price Increases
It feels like prices are always going up, but Netflix used to be different. In 1999, when many believe things were at their best, you could rent DVDs from Netflix for just $4 each. They had around 2,600 movies and shows available. By 2002, Netflix introduced monthly subscriptions with unlimited rentals for $20, and then lowered the price to $17.99 in 2003.
Back in 2007, Netflix subscriptions cost $18 a month for 18 hours of streaming. A year later, for just $9 a month, users could stream as much as they wanted. This was when Blockbuster was still a major player and had just launched its own streaming service. Interestingly, Netflix CEO Reed Hastings (who is retiring this year) actually offered to sell Netflix to Blockbuster, hoping it would help the company expand its rental and streaming options. However, disagreements among Blockbuster’s leaders led them to believe they could succeed on their own. As we know now, that didn’t happen, and Blockbuster ultimately went out of business in 2014.
Over the next ten years, Netflix underwent big changes, largely due to its investment in original shows like House of Cards. In 2011, a streaming-only plan cost $8 per month, on top of the existing $16 monthly fee for DVD rentals. By 2013, families could stream on multiple devices for $12. Prices increased by $2 across all plans in 2014, and standard subscriptions went up another $1 in 2015. During this period, Netflix also began offering content in 4K and HDR.
In 2016, the monthly cost was $10. In 2017, both the standard and premium plans increased by $1. Over the next few years, all plans went up by $1 or $2 in 2019, 2020, and 2022. A new, cheaper ad-supported plan was introduced in 2022 for $6.99. Then, in 2023, prices rose again by $2 or $3, coinciding with a writers’ strike in the entertainment industry.
Over the past year, Netflix has increased its prices twice and decided not to pursue a significant media purchase. While Netflix’s Ted Sarandos previously suggested they were content to let rivals overspend on companies like Warner Bros., the company is now seeing its stock price fall by 10%, despite a strong revenue report for the first quarter. This drop is mainly due to forecasts of lower earnings in the second quarter and the announcement that Reed Hastings, a key leader, is stepping down after three decades with the company.
See the recent Netflix price history below:
| Year | Basic | Standard | Premium |
|---|---|---|---|
| 2017 | $7.99 | $9.99 | $11.99 |
| 2018 | $7.99 | $10.99 | $13.99 |
| 2020 | $8.99 | $12.99 | $15.99 |
| 2021 | $8.99 | $13.99 | $17.99 |
| 2022 | $9.99 | $15.49 | $19.99 |
| 2023 | $6.99-$9.99 | $15.49 | $19.99 |
| 2025 | $7.99 | $17.99 | $24.99 |
| 2026 | $8.99 | $19.99 | $26.99 |
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2026-04-19 20:05