First reported by Mashable and confirmed by Business Insider, streaming video service Netflix is raising prices for users in the U.S. The price hike will begin today for new subscribers, while those who currently have accounts will be officially notified of the change starting on October 19 and will be given 30 days notice before their monthly bill is increased. All subscribers will be paying the new prices by the end of this year.
Thankfully, Netflix's basic $7.99 plan will remain untouched. However, the price of Netflix's most popular "standard" plan that includes HD and two simultaneous streams will be upped from $9.99 per month to $10.99 per month, and the company's premium service, which includes 4K resolution and four simultaneous streams, will be upped from $11.99 to $13.99 monthly.
In a recently released statement regarding these price increases, Netflix had the following to say:
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 to help members find something great to watch even faster.
Though these price increases may upset some, it's worth noting that much of this money will likely be going to acquiring more content and creating and continuing more original series, documentaries, and movies. In addition, Netflix's premium plan is still cheaper than HBO (priced at $15 per month) and its standard plan is a dollar less than Hulu's commercial-free plan ($11.99 per month).
In August, Netflix raised its prices in Canada by between $1 and $2 per subscriber.
If you're a U.S. Netflix subscriber, how do you feel about Netflix's price increase? Has it put you off, or do you feel the extra couple of dollars is worth it? Let us know in the comments!