Netflix Is Raising Prices Again. Find Out if Your Plan Costs More Now

Netflix hopes to continue boosting profits. Last year, the streaming company increased subscription prices. Earlier this year, the company announced its cheapest ad-free plan would no longer be available to new subscribers. The streaming brand also took steps to crack down on password sharing to get more users to pay up.

But Netflix isn't done making changes yet. Starting today, some subscribers in the United States will see their rates increase. This news could impact your bank account if you're a Netflix customer.

Some Netflix users will now pay $2 to $3 more per month

In its 2023 third-quarter earnings report, Netflix announced it would increase prices in the United States, United Kingdom, and France. As of today, two plans now cost more for United States subscribers. Impacted users will need to decide if they want to remain customers.

The ad-free Basic plan now costs $11.99, an increase of $2 per month. As mentioned earlier, this plan is no longer available to new customers but is available to existing users. Netflix's most expensive ad-free plan, Premium, also has a higher price tag. Users will now pay $22.99 per month -- an increase of $3.

While a $2 or $3 increase may not sound like much, the additional expense adds up quickly. That's an additional $24 to $36 per year to stream Netflix content. If you subscribe to either plan and want to remain a customer, you should adjust your budget accordingly.

But there's some good news for users in the United States. Subscribers with a Standard ad-supported or ad-free Standard plan will continue to pay the same price. We'll have to wait to see if price increases impact these plans in the future.

This price increase is likely disappointing news for consumers, but the decisions Netflix has been making seem to be working well for the brand. In the third quarter of 2022, the streaming app reported having 223 million paid subscribers. The third quarter 2023 earnings report shows Netflix now has more than 247 million paid subscribers. Millions of people are still paying for the service.

Three tips to save money on streaming service costs

It's understandable if you're feeling upset about rising streaming service costs. It seems every few months, another streaming app increases its prices. If you subscribe to multiple services, such price changes can significantly impact your budget.

Here are a few tips to save money on streaming service costs.

• Play the rotation game: You don't need to pay for multiple streaming apps simultaneously. To keep more money in your bank account and get more value from each service, you can rotate them. Pause the services you're not currently using often and resubscribe in the future.
• Switch to an ad-supported plan: If you can put up with advertisements, you can save money on subscription costs. You may consider testing an ad-supported plan to see if it works well for you. The lower price tag could be a win for your wallet.
• Consider bundling your streaming services: While you can't bundle Netflix, you can save money by bundling other streaming services. Doing this could help you reduce your monthly subscription spending. For example, you can bundle Hulu and Disney+. The ad-supported Duo Basic costs $9.99 monthly, while the ad-free Duo Premium costs $19.99 monthly.

For additional ways to save money, check out our personal finance resources.