Netflix cites “more entertainment choices than ever,” raises prices again

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On Friday, Netflix confirmed plans to raise prices for its video-streaming services in North America for the seventh time in 11 years.

Unlike many previous Netflix price hikes, this year's bump hits all three subscription options. In the United States, the "basic" tier, which is capped at 720p and includes other limits, receives its first increase in three years, jumping $1 to $9.99 per month. The 1080p "standard" tier goes up $1.50 to $15.49 per month. And the 4K "premium" tier jumps $2 to $19.99 per month. Canadian customers can expect similar jumps in prices for all three tiers as well.

Netflix says the price increases will roll out in phases to existing customers based on their billing cycles, and all customers will get no fewer than 30 days' notice before the higher prices go into effect. Brand-new customers must begin paying the higher prices immediately.

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