Netflix has made significant progress from its beginnings as a DVD rental service competing with Blockbuster. However, its prices have also increased over time. To make it easier to understand, we have compiled a timeline of every Netflix price hike over the years.
Initially, Netflix offered DVD rentals through a pay-per-rental setup. In 2007, it introduced a streaming service alongside rentals. Unlimited streaming for $8.99 per month was introduced in 2008, with a streaming-only subscription coming in 2011 at $7.99 per month.
In 2013, a Premium plan was introduced at $11.99 per month, allowing for four screens on one account. The following year, in 2014, the Standard plan increased to $8.99 per month, with a new Basic plan available at $7.99 per month without HD.
In 2015, the Standard plan increased to $9.99 per month, and in 2017, it rose to $10.99 per month. In 2019, all plans increased in price, with the Basic plan at $8.99 per month. More hikes followed in 2020 and 2022, with the Premium plan reaching a high of $19.99 per month.
In 2023, a new Standard with Ads plan was introduced at $6.99 per month, with the Premium plan now at $22.99 per month. While there are rumors of more price hikes in 2024, the last increases came in 2023. Despite these hikes, Netflix continues to gain new subscribers.
The reasons for the price hikes include the cost of licensing content, producing original content, maintaining infrastructure, and inflation. Netflix faces fierce competition in the streaming market, leading to the need for constant improvement and investment in content.