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Netflix is raising prices: This is how much more you'll spend

Netflix logo on a TV screen next to a vase of flowers
(Image credit: Shutterstock)

Breaking news: Netflix's monthly price is going up for most folks, with those who pay the most bearing the highest price bump. And the pricing is official as of today (Jan. 14) for all subscribers in the U.S. and Canada (so, international Netflix bills are unaffected). 

As reported by The Hollywood Reporter, Netflix is raising the price of its Standard plan (the one most people have) by $1.50 to $15.49 (formerly $13.99). This is the 1080p plan that lets you stream from two screens at once. 

The Premium package — which lets you stream in up to 4K UHD on up to four screens at once — is going up by $2, to $19.99 per month. Netflix's HD (720p) $8.99 per month package gets the smallest price bump, now at $9.99.

New Netflix plan prices

Netflix planFormer priceNew PriceWhat you get
Basic$8.99 per month$9.99 per month1 stream in SD
Standard$13.99 per month$15.49 per monthUp to 2 streams in up to 1080p
Premium$17.99 per month$19.99 per monthUp to 4 streams in up to 4K UHD

Subscribers should expect an email and an in-app notification 30 days before their accounts will be billed with the new rates. 

Analysis: Netflix's hike happens as competition rises

This is Netflix's first price hike since October 2020. Both price hikes felt akin to Netflix saying "It's not like you're going out much these days, right?"

But this hike feels different. While the Oct. 2020 raise came during the early days of HBO Max and Peacock, those services have been getting better. HBO Max spent 2021 giving us blockbuster movies on demand, while Peacock's movie library has quietly improved. Then Paramount Plus launched in March 2021, giving users another potential monthly fee to remember.

Of those, the $15 per month HBO Max (which has a $10 per month ad-supported option) is the most expensive, while Paramount Plus and Peacock Premium (essentially a Standard tier) both costs $4.99 per month. Neither Paramount Plus and Peacock have had the must-see hits such as Squid Game that Netflix continues to go viral with, but with their own live news and sports, each is an interesting offer.

Oh, and while you spend time thinking about keeping your account, downgrading or canceling, check out our guide on the 9 new movies and shows to watch this weekend, which include titles on Netflix and HBO Max.

We will be updating this story as we learn more about how one of the best streaming services just got a little more expensive.

Henry is a senior editor at Tom’s Guide covering streaming media, laptops and all things Apple, reviewing devices and services for the past six-plus years. Prior to joining Tom's Guide, he reviewed software and hardware for TechRadar Pro, and interviewed artists for Patek Philippe International Magazine. He's also covered the wild world of professional wrestling for Cageside Seats, interviewing athletes and other industry veterans.