Economy

Netflix SA raises the price of its standard, premium tiers

Date: Oct 20, 2021

Netflix is hiking the price of two of its most popular plans in South Africa, the standard and premium tiers, with immediate effect.

The company said in an e-mailed statement that the price of the standard plan, which costs $9.53/month, will be hiked to $10.90/month, an increase of 14.4%.

Subscribers on the Premium plan, which offers 4K, ultra-high-definition streaming among other benefits, will see an even bigger jump, with the price rising from $11.59/month to $13.65/month, an increase of 17.8%.

Netflix said the prices hikes are not related to changes in the value of the Rand. Rather, they “reflect improvements to our catalogue of movies and shows and the quality of our service and, most importantly, so that we can continue giving our members in South Africa more options and continuously increasing value.”

Although the increases are well above inflation with CPI currently at just over 4%/year, Netflix pointed out that these are the first increases since the service was launched in South Africa in 2016.

The prices for the Basic plan, which costs $6.79/month, and the Mobile plan, at $3.36/month, remain unchanged, Netflix said.

--MoneyWeb--

 

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