Daisy Watts 
Nov 26, 2023
Due to Netflix payment update and pricing changes, the popular streaming giant has been in the news lately.
The latest update from Netflix is the end of the ad-free basic tier. Now, subscribers can choose from the Standard with Ads plan, which comes at a lower cost. Additionally, to address account-sharing, Netflix is charging an extra $8 per month to add a household member.
Netflix payment update comes on the heels of a price hike that affected new subscribers in January 2022, leading to Netflix's first subscriber loss in over a decade. And this is not the only increase in recent history. In October 2020, prices went up by $1 to $2 from the previous pricing in January 2019.
Current Netflix price tiers
Standard with Ads: $6.99 per month - Up to 1080p picture quality, up to 2 streams simultaneously, no downloading on devices.
Standard: $15.49 per month — Up to 1080p picture quality, up to 2 streams simultaneously, downloading on 2 devices.
Premium: $19.99 per month — Up to 4K UHD picture quality, up to 4 streams simultaneously, downloading on 6 devices, and now includes spatial audio.
Looking back at the price history, we see that the Premium tier has seen the most significant increases. The Standard tier mostly saw $1 per month increases, with a few exceptions.
In conclusion, Netflix payment update brings changes to its pricing structure and the introduction of a new tier with ads. While some subscribers may be concerned about the increasing costs, Netflix continues to offer a wide range of content and services.
