[Asia Economy Reporter Koo Chae-eun] Netflix has raised its standard subscription fee for U.S. subscribers from about $13 (approximately 14,700 KRW) per month to $14 (approximately 15,900 KRW). The premium tier price was increased from $16 to $18.
However, there is no confirmed plan to raise subscription fees for Korean subscribers. A Netflix spokesperson stated, "Price changes in the U.S. do not affect pricing changes in other global countries."
According to foreign media including The Verge on the 30th, Netflix raised its standard and premium subscription fees effective on the 29th (local time). This is the first price increase in 1 year and 10 months since Netflix raised fees for U.S. subscribers in January last year. Since it is a monthly subscription model, U.S. consumers will be automatically charged the increased price going forward. However, the basic entry-level subscription fee remains unchanged at $8 per month.
Greg Peters, Netflix Chief Operating Officer (COO), said, "Netflix will expand investment in original content to deliver more value to users," adding, "To do this, we may ask Netflix subscribers to pay a bit more."
It is not yet confirmed whether the U.S. Netflix subscription fee increase will lead to a price hike in Korea. Netflix has changed its pricing policies differently by country. Recently, only Canada saw some price increases in certain tiers.
Netflix’s standard plan offers up to 1080p quality and allows subscribers to watch on two screens simultaneously. The premium plan supports clearer 4K resolution and HDR, with up to four screens simultaneously. The basic plan supports 480p, which is comparable to DVD quality.
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