Netflix will be more expensive for Canadians, as the streaming giant is raising their subscription rates by up to $2.00 per month.
This is the third time in the past four years that Netflix has increased their subscription rates, as they previously raised their prices in mid-2017 and late-2018. The new rates take effect immediately for new subscribers, while existing members will be notified before their next billing cycle.
Only Standard and Premium streaming plans are impacted by this year's price hike, as Standard plans now cost $14.99 per month (previously $13.99), while Premium plans now cost $18.99 per month (previously $16.99). Basic plans remain unchanged at $9.99 per month.
Netflix's Standard Plan is their most popular subscription tier, which lets members stream at up to 1080p resolution on two screens simultaneously, while their Premium plan ups the resolution to 4K Ultra HD and doubles the number of simultaneous devices to four screens.
In a statement to The Canadian Press, Netflix claims that rates were adjusted so the company can invest more into original content, stating "Members tell us how much they value variety, and we're updating our prices so that we can continue to invest in more shows and films."