Netflix has confirmed its raising its monthly fee for streaming from $9 bucks a month to $10 per month. The new price change will only affect new customers, at least for now. Existing customers will continue to pay what they pay today, until October 2016 at least.
The $10 per month streaming plan gives users two simultaneous HD streams, their $12 per month allows 4 simultaneous streams and also access to Netflix’s Ultra-HD content. For those not needing HD, they will still offer the $8 per month non-HD plan.
“To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada, and Latin America,” a Netflix spokesperson said in a statement. “As a thank you to existing Netflix members—who aren’t already benefiting from a previous price guarantee—we will maintain their current price for a year.”
We reported back in July that the price hike was coming and Netflix even said so. They said one of the reasons for the hike was due to need for spending over $5 billion on content in 2016. More content for consumers means more money in licensing which equates to price hikes for the consumer, but that’s what we want, right?
For now, it seems the hike is over and I’m sure it will be re-evaluate again this time next year. For now, Netflix is happy and so are their stockholders but I’m not so sure about consumers?