Netflix's latest price increases will roll out to USA subscribers over the next couple of months, and be fully in place in December. That increase saw the standard two streams, HD plan go up from $7.99 per month to its current $9.99 rate.
We actually believe that these price increases rarely encourage people to actually cancel because of the price, but because they instead mark a good time to evaluate the value of a Netflix subscription.
The basic plan will remain unchanged at $7.99 a month.
Certain Netflix subscription tiers will be getting a price hike in the United States, Mashable reports.
Netflix has already started raising prices for new subscribers. The two tiers, which initially cost $9.99 and $11.99 per month respectively, will now cost $10.99 and $13.99. The standard package that allows for simultaneous streaming on two screens is now $10.99 per month.
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It said one of the choices considered in the audit would "incorporate the potential conclusion of our Norwich processing plant". The company said that while grocery performance was subdued, it grew strongly in the convenience and on-trade channels.
Netflix's "content prowess" gave it the pricing power to raise prices, according BTIG Research's Rich Greenfield, sooner than the analyst expected.
For now, analysts don't see terribly anxious, nor do investors, with Netflix's share price gaining 4.3% to $192.34 in recent market action.
New subscribers will see the increased prices when signing up, effective Thursday.
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 company has plans to spend $6 billion on content this year as it faces stepped-up streaming competition from Amazon Prime, Hulu and YouTube.
Netflix last raised prices in 2014.
The next season of Stranger Things better be fucking awesome.