Netflix is gearing up for another price hike, it would appear. Beginning next month, the company will begin raising prices on both its standard and premium plan, leaving the basic plan untouched. The good news, though, is that prices aren’t going up by any extreme amount.
According to Mashable, Netflix will raise the price of its standard plan by one dollar, bringing it from $9.99 to $10.99 per month. This is easily the most popular Netflix subscription, and therefore this is the price increase that will affect the most people. The premium plan is due for a larger increase, going from $11.99 per month to $13.99. The price of Netflix’s basic plan will stay the same at $7.99 per month.
While most Netflix subscribers will be able to handle paying an extra dollar per month, this isn’t the first time Netflix has raised subscription prices on its customers. Those of you who have been subscribed to Netflix for years will remember a time when its streaming-only plan was $7.99. Though it took Netflix a couple of years to get grandfathered users up to the $10.99 tier, the process of raising prices won’t be nearly as long this time around.
That’s because, as Mashable notes, there won’t be any grandfathered accounts this time. Netflix will begin raising prices in November and by December it plans to have all users on its new pricing tiers. Customers will starting being notified about the price increase after October 19, giving those users a month to determine if they want to stick with Netflix or cancel.
It’s worth pointing out that at $10.99, Netflix is still less expensive than plans from many of its competitors (like Hulu, most importantly). That extra dollar Netflix pulls from users each month will make the company a lot of extra money as well, just in time for the insane amount of money it plans to invest in original programming next year. How about it? Are you going to stick with Netflix after prices increase next month? Head down to the comments section and let us know!