Netflix just announced a change that will be affecting many of its 53 million U.S. subscribers.
The streaming giant announced that it would be raising its price for its U.S. video streaming plan by 10%. The move is in an effort to bring in more money against rivals like Amazon and HBO as it spends more money on hit shows such as “Stranger Things” and “House of Cards.”
Instead of paying $10 a month for a plan, Netflix will now be charging customers $11. This plan includes HD and allows people to watch programs at the same time on two different internet-connected devices.
The company’s higher priced plan which includes ultra-high definition will now be $14 a month instead of $12, representing a 17% increase in price.
The one plan that limits subscribers to using just one screen at a time will stay at $8 a month.
This is the first time Netflix has increased its prices in two years and will be alerting the new prices to its subscribers on October 19th via e-mail. Subscribers will then have thirty days to accept the higher rate, change their plan, or cancel their plan.
Disclaimer: We have no position in Netflix, Inc. (NASDAQ: NFLX) and have not been compensated for this article.