Netflix’s subscriber numbers have jumped during the pandemic with millions of new customers added worldwide in the first three months of 2020 alone, the company reported.
And, as we all learned in our Economics 101 class, it’s supply vs. demand. So, when demand goes up, so do prices too. As such, the streaming service is updating prices “to bring you more great entertainment,” it says. For example, your monthly price will increase by $1 to $13.99 in February for the standard two-stream HD plan, which is its most popular package.
“This update will allow us to deliver even more value for your membership — with stories that lift you up, move you or simply make your day a little better,” the company said in a recent statement.
Indeed, Netflix has created a lot of the most-watched original content in recent years, including series such as Tiger King, Cobra Kai, and The Crown.