Netflix has announced that it will be retiring its cheapest subscription plan, while simultaneously warning that its subscribers may have to pay “a little extra” in future.
In a Q4 2023 shareholder letter obtained by The Verge, Netflix revealed it would be sunsetting its ad-free 'Basic' plan for subscribers.
'Basic', which allows streaming only up to 720p, was previously raised to $11.99/month. It will be removed first in Canada and the UK in Q2 2024, before following suit elsewhere.
"As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements," the letter also reads, suggesting that a further price increase – on top of those from last year – may follow in future.
Last October, the premium plan went up from $19.99/month to $22.99/month, while those in the UK are now paying £17.99/month for premium.
This all follows on from Netflix striking a $5 billion deal for the exclusive rights to stream WWE programming on its service. Its flagship show – Monday Night Raw – will air weekly from January 2025 in the US, while international subscribers will get Raw, SmackDown, and Premium Live Events, moving forward.
Netflix, though, has enjoyed a strong start to 2024: Harlan Coben’s Fool Me Once has stormed to the top of streaming charts, plus the likes of Bridgerton season 3 and Avatar: The Last Airbender are coming later this year.