This will be the first U.S. price hike since 2014, when customers who'd been grandfathered in on the $7.99 Standard plan were asked to pay the same $9.99 as regular customers. Will this make you reconsider your subscription or are you happy to keep paying the new price? The top tier that includes ultra HD and four-device simultaneous viewing will go from $11.99 per month to $13.99 per month.
According to Mashable, Netflix will raise the price of its standard plan by one dollar, bringing it from $9.99 to $10.99 per month.More news: Catalan independence in 'matter of days'
If you have the two-screen plan you will spend $131.88 per year now for your subscription.
IBD'S TAKE: Netflix stock has an IBD Composite Rating of 88, meaning it has outperformed 88% of stocks in key metrics over the past 12 months. Entry level plans will remain at $7.99 a month. That's up $1 per month from the previous $9.99 monthly fee.
The new price plan will come into effect immediately for new customers, while existing Netflix customers will be notified of the changes in the coming weeks. What do you guys think of this move? The company has committed $15.7 billion to streaming content deals - with $6 billion earmarked for 2017 alone. Then again, $7 billion in content isn't going to pay for itself.
The news coincided with the announcement of the Basic plan, giving Netflix's 81.5 million subscribers at the time a choice as to what subscription they wanted to go with.