Netflix and chill don’t come cheap, and the streaming company’s latest announcement will burden those who love to binge on tv shows and movies on a nightly basis. According to a report by CNBC, the $8, $11, and $14 plans will now become $9, $13, and $16 respectively. That translates to Php 470, Php 680, and Php 840 per month when converted.
Currently, Netflix’s plans are priced at Php 370, Php 460, and Php 550 based on their site. The price hike is quite significant, and this can make current subscribers think twice about their subscription.
In a statement, Netflix explained that the price hike is needed “as we continue investing in great entertainment and improving the overall Netflix experience.” Netflix has been investing a lot on creating original shows like Orange is the New Black, House of Cards and Stranger Things—majority of them gaining much-deserved recognition that includes eight BAFTA nominations and Golden Globe awards for this year.
As of this writing, the new prices will affect US customers and most Latin American customers. No word yet on if or when the price cuts will arrive to this region, so it is best that we wait for Netflix’s official statement on this.