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Illustration: Sarah Grillo/Axios

Netflix announced Thursday it will charge customers $14 for its standard monthly subscriber plan and $18 for the premium plan, the Verge reports.

The big picture: The business model behind Netflix's strategy is to accumulate as many users worldwide with as much original and licensed content as possible, and then hike the monthly subscription prices on those users once they are hooked.

  • The basic plan will remain $9 per month, per the Verge.

Between the lines: Some big entertainment companies are eyeing price hikes to make up for pandemic headwinds. Spotify hinted at its own cost increase in a Thursday earnings call and both companies gave modest Q4 guidance.

What they're saying: "We understand people have more entertainment choices than ever and we're committed to delivering an even better experience for our members," a Netflix spokesperson told CNET.

  • "We're updating our prices so that we can continue to offer more variety of TV shows and films — in addition to our great fall line up. As always we offer a range of plans so that people can pick a price that works best for their budget."

The bottom line: Generally speaking, streaming TV is getting more expensive, making it less of an affordable alternative to cable.

Editor's note: This story has been updated to reflect that Netflix's standard plan will increase by $1 and the premium plan will increase by $2.

Go deeper

Kendall Baker, author of Sports
Nov 17, 2020 - Sports

Actors Ryan Reynolds and Rob McElhenney buy a soccer team

Illustration: Annelise Capossela/Axios

Actors Ryan Reynolds and Rob McElhenney have teamed up to acquire fifth-division English soccer team, Wrexham AFC, one of the oldest clubs in the world.

Why it matters: The two actors have promised to invest at least $2.64 million and plan to use their own stardom — plus a documentary series — to promote the club globally and hopefully take it to new heights.

Why America's post-vaccine summer is off to a slow start

Illustration: Sarah Grillo/Axios

Americans are itching to put pandemic life behind them, but many of the necessary ingredients for a summer of carefree fun — everything from neighborhood pools to car rentals — still aren't fully available.

The big picture: Labor shortages, scrambled supply chains and simple logistics are all making it harder for a whole range of businesses to meet post-pandemic demand, and that’s making “hot vax summer” a little harder to pull off.

2021 set to become deadliest year on record for trans Americans

Data: Human Rights Campaign; Chart: Will Chase/Axios

28 transgender and gender non-conforming people — nearly all Black and Latina women — have been killed this year, according to the Human Rights Campaign, which has tracked such deaths since 2013.

Why it matters: At this time last year, there were only 13 known killings of trans people, per the HRC. If this current pace continues, 2021 will be on track to significantly beat last year's all-time record.