Economy

Your Netflix subscription is getting more expensive starting next month

Your Netflix subscription is getting more expensive starting next month”

Netflix will begin notifying subscribers of this price change starting on October 19, giving at least a 30 day notice about the price increase before the next billing cycle. The new pricing details are as follows: Starting in November the cost of a standard Netflix subscription will increase from $9.99 a month to $10.99.

Amazon's most basic plan without HD streaming still costs $7.99 per month.

Netflix has raised their prices before, and while there's always some immediate backlash, it's hard to stay angry when Netflix keeps on pumping out more quality shows than the average user can realistically keep up with.

Netflix Inc.is raising the price of its most popular US service plan by 10 percent as the streaming video giant looks to help pay for its ambitious budget for TV shows and movies. The top-tier "Premium" plan, which allows for four simultaneous streams and access to higher-resolution content, has been upped from $11.99 a month to $13.99 per month. Wall Street has regularly pointed to good original content as one of the biggest subscriber growth drivers for the company, and Netflix recently said it plans on spending $7 billion on creating its own content next year.

The effort appears to be working. The cost of traditional packages per-hour was around $0.42, while the cost of Netflix was about $0.10. Still, even Netflix's new $10.99 standard tier is cheaper than HBO Now's $14.99 per month plan and Hulu's $11.99 commercial-free plan.

Given the huge amount of competition in streaming, small but steady price hikes for customers are basically a given.

A small price shift probably isn't enough to deter a majority of Netflix's 100 million subscribers, but as the streaming industry splinters into small niche services, customers have more options then ever.



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