Why Is Netflix Raising Its Prices? Latest News

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Why Is Netflix Raising Its Prices? Latest News

Watching Stranger Things and Orange Is the New Black just got more expensive.

In an effort to ease rapidly rising content costs, Netflix decided to raise its monthly subscription fee by 10 percent. From now on, the streaming giant will charge its 53 million US subscribers $10.99 instead of the usual $9.99. Its ultrahigh definition plan will also be affected, rising 17 percent (going from $11.99 to $13.99). In all fairness, an additional few dollars probably won’t break the bank for most users, but coupled with the news that Netflix is also losing beloved shows like How I Met Your Mother and 30 Rock, it’s even more of a bummer.

“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,” Netflix told The Hollywood Reporter in a statement referencing its extensive list of new and original titles. Considering the fact the company has plans to spend a reported $6 billion on new content this year in an effort to compete with similar services like Hulu and Amazon Prime, the announcement doesn’t exactly come as a surprise. The only people unaffected by this change are those who subscribe to the $7.99 plan, which doesn’t offer HD video or allow simultaneous streaming across multiple devices, since it will stay the same.

We can expect the price increase to start showing up on our bills over the next couple of months. Womp, womp.

Why Is Netflix Raising Its Prices? Latest News

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Why Is Netflix Raising Its Prices? Latest News

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