Netflix kept its basic plan, which allows standard-definition video streaming on one device at a time, at $7.99 a month. A sense of "is nothing sacred?" overcame the Netflix audience, and several of our readers commented that they'd even consider cancelling their subscription over this increase. The change to its price will now have subscribers paying $13.99 per month.
Video rental and streaming video giant is raising the prices on two of its plans, the company's first price hike in two years. In the second quarter of 2017, Netflix added 5.2 million new subscribers-1.07 million in the US and 4.14 million internationally-putting it way out in front of its estimated 3.2 million total subscriber adds. The "standard" plan with two simultaneous streams and HD quality will go from $10 to $12.
In a statement to the Daily News, Netflix's team stated that they occasionally up the cost of subscriptions as they add exclusive content.
Get ready to shell out more for your Netflix.
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Netflix has begun raising prices for new USA subscribers and will begin increasing prices for current subscribers on October 19.
News of the price increases have led to instant results on Wall Street, with confidence in the company's future boosting stocks to $192.24 per share.
Netflix had earlier said it would spend over $6 billion this year on original shows and expected to have negative free cash flow of $2 billion to $2.5 billion. But increasingly the landscape of streaming TV is shifting; as Netflix goes more towards originals, Hulu is doubling down on its library.
It's going to cost a little more each month to "Netflix & Chill". It bought the streaming rights to The Good Place, for example, guaranteeing a second season, and it has deals in place with the CW for its shows.