Ahh Netflix. It is the price by which we value virtually everything else on the internet. No more, "That's the price of two coffees." Now it's all, "Oh yeah, that shirt is worth three months of Netflix, I'd go there."
But from today, your Netflix bill (and, if my economics training is correct, the value of everything on the internet, ever) is about to change.
Ahead ofthat will see online goods and services slugged with a 10 percent GST hike, Netflix has upped its prices. But never one to do things by half, Netflix is adding a little something on top.
From today, Netflix's Basic plan is going up by AU$1, it's Standard plan is jumping up by AU$2 and its Premium plan is going up by AU$3. Just a small nudge, but for the top-tier plan that's plenty more than the 10 percent increase required by the new laws. It's double that.
Netflix says that while it has not changed prices since launching in 2015, the increases were necessary -- in part down to the laws, and in part a reflection of the increased value of the service.
"From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience," a Netflix spokesperson said. "In light of the upcoming GST increase, we will be rolling out updated plans and pricing."
New subscribers will see the increase from today, while existing subscribers will be notified of the change via email and see the increase in their next monthly bill.
It's not the first time Netflix has upped its prices. In 2015, the company increased the cost of its most popular plan in the US, and the company has also admitted to testing different advertised price points in Australia. The company's main Australian competitor, Stan, also introduced a new price tier this year when it brought 4K streaming to its service.
But with Netflix's top-tier, 4K-capable service now going for AU$18 in Australia, it's a big change that could see some customers reconsidering their monthly economics.
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