Published: Fri, October 06, 2017
Markets | By Noel Gibbs

Netflix Raises US Subscription Prices for New and Existing Customers

Netflix Raises US Subscription Prices for New and Existing Customers

In 2011, Netflix raised prices for some customers by as much as $6, causing more than 800,000 USA subscribers to desert the service.

We actually believe that these price increases rarely encourage people to actually cancel because of the price, but because they instead mark a good time to evaluate the value of a Netflix subscription.

Even with the hike, Netflix's standard plan is still cheaper than HBO Now at $15 per month and Hulu's commercial-free plan at $11.99.

In October 2015, Netflix last raised its prices for new members, and then embarked on a process of "un-grandfathering" existing customers into new prices. Those with top-tier service will see prices go up from $11.99 to $13.99.

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Netflix is raising its prices for the first time in two years.

Netflix passed the 50 million subscriber mark earlier this year, passing the number of subscribers to America's largest cable companies.

According to Netflix officials who confirmed details with Business Insider, the streaming service's middle and highest-tier plans will increase in price, with new subscribers seeing the effect today and current subscribers being charged more in their next billing cycle.

Get ready to shell out more for your Netflix. The changes will affect new subscribers beginning October 5.

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The company remained committed to investing in original programming, saying it will release 40 feature productions this year ranging from "big-budget popcorn films to grassroots independent cinema".

The most popular plan, the midtier one going up a $1 to $10.99 a month.

A more gradual move in 2014 did not provoke the same outrage.

Netflix waited until just after the third quarter came to a close to roll out the new pricing, so this news won't have any bearing on Netflix's financial results in two weeks. 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.

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