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Consumers nowadays don't need pricy cable packages to get a fix of quality TV, and Netflix is undeniably king of the streaming video game. While there are competitors that have been expanding in recent years, no platform even comes close to rivaling Netflix. The good news is that subscribing to Netflix is pretty convenient; for a set price per month, subscribers have access to a vast library of movies, TV shows, and original series. The bad news is that Netflix is free to hike its prices every once in a while, and folks who love Netflix have to choice but to shell out the extra bucks per month. Now, the streaming giant is set to raise its prices.
Netflix currently offers three exclusively streaming plans, although there are options for adding a DVD subscription for an additional fee. The least pricy streaming plan costs $7.99 per month and offers streaming on one screen at a time in standard definition. The price for this first streaming plan actually isn't going to change, so subscribers won't have to pay any more if they want to stick with it. The other two streaming plans are where the price bumps happen.
The two-screen streaming plan currently costs $9.99 per month and offers viewing on two screens at a time in HD video where available. Mashable reports that subscribers of the two-screen plan will pay an extra dollar in the not-too-distant future, with a monthly cost of $10.99. The third plan enables subscribers to watch on up to four screens at a time in HD and Ultra HD where available. Folks who use this plan previously paid $11.99 per month; that will be bumped up to $13.99.
The price bumps will only affect subscribers in the U.S., so international users may not see any change for a while yet. For those of us in the U.S., however, the price increases will begin to take effect in November. Beginning on October 19, those who currently subscribe to Netflix will be given at least 30 days notice, which should give the opportunity to cancel subscriptions if the price hike is too much.
Depending on your point-of-view (and pocketbook), the extra dollar or two per month might not seem like that much. For Netflix, that extra dollar or two per subscriber adds up to quite a lot, even if some subscribers choose to cancel their plans rather than pay more. Estimates back in 2015 placed the total number of subscribers to Netflix at over 75 million; that number may have increased in recent years.
A study last fall also showed that more than 90% of Netflix subscribers were happy with their decision to stick with Netflix, despite earlier price hikes. Given how much money Netflix has been investing (and borrowing) in original series, the company is likely counting on most of its subscribers sticking around after this upcoming price increase. After all, some of its strongest properties show no signs of stopping. The Marvel shows are quite popular, and Stranger Things has several more seasons to go, including the second that is set to debut on October 27.
For what you can watch on Netflix now and in the coming weeks, take a peek at our 2017 Netflix premiere schedule.