Netflix is increasing its pricing for its streaming service.
The company explained its decision in a statement provided to Variety, earlier this week.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson told the out. “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget.”
Netflix last raised its subscription prices in October 2020. In wake of the news, the company’s stock price rose 2%, according to CNN
The streaming service has been putting out a steady flow of content in recent months. Both The Power of the Dog and Don’t Look Up are expected to be big names come award season.
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