Economy

How Will Netflix's Price Hikes Hit You?

How Will Netflix's Price Hikes Hit You?”

The $7.99 basic plan, which does not allow for HD streaming, will not change in price.

The company in July reported that ranks of subscribers to its streaming service grew in the second quarter of this year to 103.95 million.

The price change will reportedly take effect for current subscribers starting October 19, "depending on their billing cycles", and new subscribers will see the price increase starting immediately.

The stand-alone online streaming service of HBO NOW costs $14.99 per month, while cable providers offer HBO GO subscriptions for varying charges - $17.99 with DIRECTV, $15 with DISH Network Corp (NASDAQ: DISH).

The most popular Netflix plan, which supports high-definition video and allows simultaneous streaming to two screens, was raised a dollar a month to $10.99.

Netflix ( NFLX ) stock hit a record high on Thursday after the internet television network revealed price hikes for two out of three of its US streaming plans.

Considering the fact that Netflix has been churning out quality TV shows like Stranger Things and 13 Reasons Why and adding awesome features like offline viewing over the past two years, they're certainly not lying about improving their platform on the regs.

The price increase was limited to the United States and a handful of European countries including France, Britain and Germany, Netflix said.

Mashable, which first confirmed the price hike, said that the increased fee will be set for all subscribers by December.

For new members, the higher pricing for Netflix's top two plans went into effect October 5. This price hike also means Hulu's new commercial-free plan is just $1 more a month and will have most of the Fox shows that are being pulled this month.



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