Netflix Raising Price Of Some Plans

Peter Castro
October 6, 2017

Netflix plans to inform customers by October 19 of the change.

If you subscribe to the premium family plan that allows for streaming on four screens in HD with select content in 4K, the price will increase from $11.99 to $13.99.

Netflix made the decision to increase the price of its plans in an effort to increase margins while it continues to spend billions creating hit original content such as "House of Cards" and "Stranger Things", according to the Associated Press.

Most of the subscriber growth came from outside the USA, where Netflix has invested heavily in establishing itself as a global television service.

In November, Netflix will raise prices for US premium subscribers for the first time since 2014.

The price of the basic plan, which costs $7.99 monthly and delivers standard definition video to one screen, remains the same. Those who try to sign up today for Netflix will see the new, higher prices and not the old pricing.

Netflix's price increases always spark drama.

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The new prices were listed on Netflix's website as of Thursday and would be in effect for all new subscribers starting the same day.

Netflix did not immediately respond to a Fortune request for comment on the price hike.

In a statement to Mashable released on Thursday, the streaming giant said that the price increases were due to the flood of new TV shows and movies debuting on Netflix. Rather than a slow roll out like last time Netflix is opting to change the prices for all users within about two months of the new price announcement.

As the streaming platform expands its original production budget from $6 billion to $7 billion, it's turning out consumer pockets to make up the difference.

The cost of the popular streaming service is about to go up, but how much?

But some were ok with the increase, and thought it was worth it for all the shows and movies Netflix has to offer.

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