Netflix has announced a price increase for their most popular plan, effective immediately, that brings the monthly cost up to $9.99 from $8.99. The price increase is only applicable to new customers for the time being, although existing customers will be bumped up to the new price after October 2016.
The prices of Netflix's other plans remain the same, meaning you can still get a non-HD streaming option for $7.99 per month, or a family share option with Ultra HD streams for $11.99 per month. The $1.00 price increase makes the standard plan sit more comfortable between the two other options.
Some users vented their frustration at Netflix's whopping $1 price increase for the standard plan on Twitter, expressing annoyance that streaming from the company's huge catalog of movies and TV shows would cost them $12 more per year. Netflix justified the price increase by saying it would allow the company to bring "more great content to users".
Netflix shares increased by more than 6 percent after news of the $1 price increase hit the web. Investors were clearly happy that Netflix is willing to increase the price of their plan as the cost of maintaining their catalog increases, even if slightly unhappy users are have to fork out more cash.