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08 October 2017, 01:08 | Frank Carlson
Netflix is raising its prices for US subscribers
Netflix has been at the forefront of streaming technology, forcing mainstream television companies and film distributors to reconsider their options.
Netflix Inc (NASDAQ:NFLX) has announced the first increases in monthly fees in two years, hiking costs for two of its three main streaming subscription plans as it spends heavily on its own original content.
Effective immediately, new subscribers will pay $10.99 a month for Netflix's popular two-stream HD tier, which allows subscribers to watch on two screens at once.
Netflix is going to make two pricing tiers for US subscribers more expensive starting next month. Users will have 30 days to accept the new rate, change their plans or cancel the service.
The Sun is reporting that if you're using the basic price plan of €7.99 a month then nothing changes. Woo! Current subscribers will be notified starting on October 19, and then will become effective at the start of their next bill cycle.
The price increase for new customers in the US became effective on Thursday. Investment will rise from around $1 billion to some $7 billion, according to Netflix CEO Ted Sarandos, in a recent interview with Variety.
"We would expect mgmt. would be unlikely to implement such a price increase if USA subscriber trends were disappointing, bolstering our confidence further".
Original productions cost money, after all, and it's not a particularly hard price increase to swallow.
Of course, the news comes just weeks before the smash hit "Stranger Things" returns to Netflix for a second season, so perhaps many subscribers would just as soon make peace with any price hikes knowing they'll be getting their fix of family-friendly horror quickly enough. Stay tuned with us for more details on the Netflix price hike. This made a lot of people ask whether or not this would effect T-Mobile's Netflix On Us promotion and, it doesn't. Netflix is raising prices again for subscribers in the United States. "Further, we expect less speculation this time as to what the price increase means for future content spending given 2018 has already been indicated at +$1b Y/Y", wrote Mitchelson in a research note.
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