It's unlikely the increase will deter Netflix's 100 million subscribers - especially if it comes with a promise of more high-quality original shows. Their premium plan, which now is priced at $12 for 4K and streaming on four screens simultaneously, will cost $14, a $2 increase. The Basic $7.99 per month plan will remain the same.
And Netflix blamed a temporary slowdown in subscriber growth a year ago on the lifting of its price freeze on long-time customers who chose to drop the service rather than pay slightly more money.
Today Netflix announced that their standard Netflix HD plan with two simultaneous streams will go up from $9.99 to $10.99 per month.
Wall Street appeared to approve of the move, as Netflix shares were up almost 4% to $191 apiece in midday trading.
Their new Standard plan, which featured HD, which had been offered to recent customers for $9 a month and older customers for $8, was being raised to $10.
Bad news, Netflix members: prices are going up.
The majority of subscribers will not be happy with paying $12-24 more per year to receive Netflix.
Apparently banking on fans' appetite for another 1980s Hollywood nostalgia trip, Netflix has decided now is the time for a price bump. Making new subscribers pay up starting now also makes the decision to launch the second season of Stranger Things later this month that much more impressive.