Netflix Announces New Round of Membership Fee Increases - Highest Tier at $168 per Month

Streaming giant Netflix has unveiled another round of price hikes. On Wednesday, Netflix revealed that some subscription plans in the United States, the United Kingdom, and France will be subject to a new round of price increases. These changes will affect anyone subscribed to the "Basic" or "Premium" plans.

The "Basic" plan, which is Netflix's lowest-tier ad-free subscription, will no longer be available to new members. In the United States, users currently pay $9.99 per month, but this will increase to $11.99.

The price hike for the "Premium" plan is more substantial. This tier allows users to stream in ultra-high definition on up to six devices and download content. The price will rise from $19.99 per month to $22.99 (approximately 168 Chinese yuan).

The good news is that the subscription fees for the other two plans will remain unchanged. The ad-supported plan will continue at $6.99 per month, and the "Standard" plan will remain at $15.49 per month.

In the United Kingdom and France, the "Basic" plan is priced at £7.99 and €10.99 per month, respectively, while the "Premium" plan costs £17.99 and €19.99 per month.

Netflix stated in its Q3 shareholder letter on Wednesday, "While we paused price increases when we launched shared billing services, our overall approach remains the same – a range of prices and plans to meet a wide variety of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more."