Monthly fees for the streaming service are about to go up by $2 a month.
Netflix once again confirmed its plans for a price hike in a letter sent out to shareholders on Tuesday. The streaming movie and TV service will raise its monthly fee to $10 a month, even for existing customers. That’s $2 more than the $7.99 many current members pay. There is a way to get around the hike, but many customers won’t like it.
The letter to shareholders also says Netflix has nearly 45 million members in the United States. Do the math, that’s an extra $90 million dollars a month.
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So when will this happen? Netflix isn’t ready to reveal the exact timing just yet, but says sometime in “Q2 and Q3.” That means the new membership fees could take effect as early as April.
You can get a little clue by logging into your Netflix account. My billing details page says my $7.99 monthly membership is only guaranteed until May 9, 2016.
Now there is a way around the price hike if you want to continue paying $7.99 a month, but you won’t like it. Stick to the current price and all of your content will be delivered in standard definition. That means no “Orange is the New Black” or “Making A Murderer” in HD, and that’s not very fun, especially on your fancy big screen HDTV.
via Netflix Letter to Shareholders [PDF]