Netflix is raising its prices for the first time in two years, increasing the cost of its most popular plans.
Netflix, the omega pioneer of home streaming services, plans to raise its prices by $1 to $10.99 monthly.
Subscribers of the $11.99 premium plan, which bumps the number of simultaneous screens up to 4 from 2 (as in the standard plan) and provides 4K video, will see an increase of $2 to $13.99.
The price of the basic plan, which costs $7.99 monthly and delivers standard definition video to one screen, remains the same.
Netflix has begun raising prices for new U.S. subscribers and will begin increasing prices for current subscribers on Oct. 19. The price increases take effect over the next several months, Netflix says, with all subscribers will be notified at least 30 days in advance, based on their billing cycle.
Netflix’s last price increase happened in October 2015. Since then the U.S. subscriber base has grown from 44.7 million to 52.7 million at the end of September.
For T-Mobile customers, T-Mobile will continue to cover the cost of a standard Netflix subscription for customers that qualify for Netflix On Us. Both T-Mobile CEO John Legere and the official @TMobileHelp account on Twitter confirmed as much this morning.
The good news is that even with the increase in prices, Netflix is still cheaper to own than Cable TV.
Are you upset by the news of this increase in price? Do you plan to cancel, or are you apart of the millions of subscribers that plan to continue service? Let us know in the comments below!
Also if you are curious about what New is coming to Netflix this month check out the list right HERE!