Netflix Raising Price of Standard Streaming Plan to $9.99 a Month

As previously mentioned, this price increase applies to the standard plan, which allows two viewers to use the same subscription simultaneously.

Meanwhile, a basic start option remains at $7.99, which unlimited non-HD access on up to 1 device.

Netflix, Inc. (NASDAQ:NFLX) has increased the price of its standard plan by $1 per month to $9.99 in United States, Latin America and Canada.

The price hike will only immediately affect new customers while existing customers will continue paying $8.99 a month until October 2016.

Although the company stopped breaking down Canadian subscription numbers several quarters ago, Netflix now has more than 65 million customers worldwide. The price hike will apply to those in the US, Canada, and Latin America, it said. But it does show that price continues to be a sensitive subject for Netflix.

Are you annoyed with the Netflix price increase at all?

Netflix subscribers will have to dish out more money for their subscription in order for them to watch their favorite series. And two, nothing will change for current Netflix subscribers for a year, and who knows what could happen in that time? “The $1 increase is unlikely to trigger significant customer attrition, but it is insufficient to take Netflix to the high level of future profitability that its valuation implies”.

Netflix’s higher price might help Amazon’s rival Internet video service, which is sold with a bundle of other features that includes free shipping from Amazon’s online store for $99 annually, or $8.25 per month.

Netflix has reportedly spent over $4.3 billion in programming costs over the next year, which will increase to $5 billion for the next three years. Over the past year Netflix has cranked out critically beloved original content like Unbreakable Kimmy Schmidt and grabbed attention for upcoming projects such as Beasts of No Nation, a film starring Idris Elba.