Netflix and Chill just got more expensive as Netflix will now cast $9.99 month.
Netflix has just raised the price of their standard streaming subscription by $1 a month. The streaming company updated their website on the morning of October 8th to reflect the price hike. Under the new plan, Netflix offers HD video and the ability to stream on as many as two screens at the same time.
Netflix will also offer a basic $7.99 plan that does not include HD and does not allow for streaming on multiple TVs or computers. A premium $11.99 program includes access to Ultra HD video and simultaneous streaming on four screens. However, those plans are not affected by the price increase.
The price hike will only affect customers in the United States, Canada and Latin America which comes after a similar price hike was made for European customers in August.
If you’re already a costumer of Netflix, than you will be given a one-year grace period before their subscription fee increases.
Currently, Netflix has more than 65 million subscribers and is counting on the price increase to help increase the number of original and exclusive movies and TV shows. Netflix announced that the company has plans on spending $5 billion on original content and acquisitions in 2016.
“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. 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,” a company spokeswoman said in a statement.
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