Netflix is now its viewers to pay even more for the streaming service.
According to TVLine, Netflix has the most expensive streamer on the market thanks to a decision that is effective immediately. Viewers will now have to pay $15.49 a month for the standard service rather than the previous $13.99, which was already a price hike from January of last year.
The new price, just 49 cents more than HBO Max's $15 a month subscription fee, brings Netflix at the top of the list for costly streamers. But it's even more costly if you live in Canada, where viewers now have to pay $16.49. While decision to increase the pay for North American subscribers is now in play, viewers will start to see the effects of the decision "over the coming weeks" based on their billing cycle, as TVLine reports from The Hollywood Reporter. Subscribers will get a heads-up about the price raise 30 days in advance through the Netflix app and through email.
Netflix explained the reason for the raise in a statement to Variety, saying via a spokesperson that the new price reflects the streamer's wish to keep supplying subscribers with premium content.
"We understand people have more entertainment choices than ever and we're committed to delivering an even better experience for our members," said the representative. "We're updating our prices so that we can continue to offer a wide variety of entertainment options. As always we offer a range of plans os members can pick a price that works for their budget."
Some of the budget costs might come from Netflix's further international expansion. Thus far, Netflix has brokered entertainment production deals with Asia, Africa, the Middle East, Europe, and Mexico, to name a few. Squid Game's success has also increased all streamers' interest in South Korea, specifically Netflix, which already invested heavily in South Korean content.