Netflix is going to rise prices on about 17 million of its standard accounts starting next month and don’t say that they didn’t warn you now. Longtime users of streaming service Netflix will definitely see their price go up, which isn’t a new price hike for Netflix. It was two years ago, when Netflix announced it would raise the price of its standard plan to $9.99. At its official announcement back in May 2014, Netflix however said these words that “existing customers could maintain the older $7.99 price for two years,” which is expected to expire in May.
Those of you who subscribed to Netflx before it was somewhat cool for the last few months have expecirienced a grandfather subscription of $7.00 per month. Starting next month, May, Netflix prices will increase to $9.99 per month to match the price increase which the company implemented for new subscribers last year. Right now, an estimated 37% of Netflix’s subscriber base – or over 17 million customers – is still on the $7.99 grandfathered rate, so that means millions of people are going to be paying more for the service starting in May.
This is not only going to be a bad news, but there’s a good news here is that Netflix is giving us a lot more bang for our buck than it did two years ago. Given the fact that the company’s highly ambitious plan to produce tons of interesting original content has paid off big time and now most of us can’t imagine going without Orange is the New Black, Jessica Jones, or Unbreakable Kimmy Schmidt. All of these new content costs money, which is the reason why it’s not surprising to see Netflix incresaing prices. Admitted!
For waht it’s worth, Netflix’s new $9.99 monthly subscription fee still costs less than the commercial-fee version of Hulu, which although costs more than Amazon Prime Video, which radically works out to around $8.25 per month since it’s part of the Amazon Prome’s subscription package.
“To continue adding more movies and TV shows and delivering a great streaming experience, we previously announced that we planned to increase our price slightly for new members,” said Netflix when the price hike was revealed.