Netflix is increasing its subscription prices for both new and longtime subscribers.
Judging by past history, this adjustment will encounter lots of negative reaction from users.
On one level, that’s fully clear. Most people depend on a budget, and any adjustment to the said budget can conceivably be cause for worry.
That said, it’s really not too surprising for Netflix to make the move, as the streaming giant continues to gather big debts, usually in service of producing more authentic content each year.
Netflix is not really in a position to reduce the price when it comes to content creation either, as contender like Hulu and Amazon are regularly pumping more money into their own authentic movies and shows as well.
While Netflix is currently the biggest name in the subscription streaming network, that may not always be the case, and the organization allowing itself to fall behind rivals when it comes to investing in content would present a good opportunity for said competitor to try and overtake the throne.
According to Variety, the price of Netflix’s most popular streaming scheme – which allows for up to two streams at the same time and access to 1080p HD content, is ready to rise up to $10.99 per month.
That’s an increase of a single dollar from the current $9.99 monthly rate.
In a change that will disturb a much smaller number of Netflix’s subscribers, the price of the highest level plan – which allows for up to four streams at the same time and access to 4K Ultra HD content – will be going up to $13.99 per month.
That’s a two dollar increase from the current $11.99 monthly rate.
The price of Netflix’s lowest plan – SD only, one stream at a time – will remain $7.99.
Some subscribers are positive to point out the fact that it’s not too long ago that Netflix increased their prices, and spine against the announcement that the service is already increasing them again.
Netflix most recently raised prices for new subscribers in late 2015, with the change being rolled out to existing subscribers in mid-2016.
That increase saw the quality two streams, HD plan go up from $7.99 per month to its main $9.99 rate.
As for when subscribers can expect to see the new prices display on their monthly bill, Netflix plans to begin informing existing subscriber of the impending increase on October 19, and will send these notices out at least 30 days prior to each user’s next billing date.
The full implementation of the new prices is expected to take several months. For new customers, the prices have changed as of today, October 5.