Netflix Announces Price Hikes

“Netflix and chill” just got a little bit pricier.The hottest online streaming site announced its intentions to increase the prices of its two upper tier plans. Their mid grade plan is jumping from $9.99 to $10.99, a ten percent increase, while their highest plan available will jump from $11.99 to $13.99, a seventeen percent increase. As of right now, Netflix hasn’t announced any intentions of raising the price for their lowest grade plan, which will remain $7.99.

Home to the Netflix original series’ “Stranger Things” and “Thirteen Reasons Why”, the company will begin notifying its customers in two weeks of the price changes. They have thirty days to accept the new charges, or to downgrade to a lower plan. This will only affect US customers as of right now.

A spokesperson for Netflix released a statement, reading, “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.”

As online streaming services are getting more competitive, is it a smart move for Netflix to increase their prices? After this price change, both Amazon video ($8.99) and Hulu ($7.99) will be cheaper than the online streaming pioneer.

How much would you continue to pay for your Netflix account? Would you consider switching to another service?

Photo/ Instagram: @netflix

Twitter: @netflix

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