TV shows and quality streaming movies are one of the simplest pleasures of everyday life. Unfortunately for Netflix, things are going to become a bit more financially complicated, to say the least.
Effective immediately, the Standard Service will go up by $1/month and will now cost $9.99 per month. The change is applicable only for new subscribers. For those currently subscribed, the higher rate will kick in during October 2016.
The grace time in the price raise will be more gradual for users who subscribed before May 2014, the company has announced. The now imposed price hike is targeted at customers from Canada, US and parts of Latin America. The move was preceded by a similar price hike for Netflix subscribers in Europe earlier this year.
@LaciePassmore So we can brig more great content to users, the price for the 2-stream is going from 8.99- 9.99 for new members.
— Netflix US (@netflix) October 8, 2015
The company took to twitter to scour customer concerns and addressed them. Defending the price hike, Netflix claims that said hike will allow the company to offer a better and wider variety of content for its subscribers.
Be that as it may, several current subscribers don’t seem affected by the price hike saying that, taking into consideration the content that they get, Netflix is fairly priced, if not underpriced.
However, a handful did voice out that they were putt off with the price hike. According to reports, The Wall Street applauded the move, with Netflix shares going up by 6.3% after the announcement.
If you are hesitant to shell out a couple more bucks for your favorite shows, you may want to consider canceling the subscription that you currently share with your room mate. Why?
Because the two-stream package that allows two users to share the subscription at the same time is the only package that will be affected by the price hike – as of now.
You then have the options to either downgrade to the single user subscription at $7.99 or to upgrade to a more generous four screen plan at $11.99, sharing costs. The $7.99/month option, however, does not support High Definition.
For the complete list of Netflix subscription options, head on to its website here.
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