Netflix will once again raise prices on its services starting next month according to a report from Mashable. Prices will increase by one dollar from $9.99 to $10.99 for the standard plan and from $12.99 to $13.99 for the premium plan. The basic plan will remain the same at $7.99.
The standard plan is by far the most popular and will probably affect the most people. That said, a dollar increase in the plans is unlikely to cause much consternation among most Netflix subscribers. Subscribers will start receiving notifications about the increase starting October 19th and given about a 30-day notice before the change.
Netflix released a statement about the price increase: "From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster."
That statement seems to prove true as Netflix has been adding an incredible amount of original content, some of which have earned Netflix accolades such as Emmys, Golden Globes, and at least one Oscar. Shows such as Orange is the New Black, Stranger Things, and House of Cards have rocketed to popularity. Marvel has seemingly struck gold with their smaller scale MCU expansions such as Daredevil, Jessica Jones, and The Defenders. This is even more impressive considering that despite the price hike, Netflix is still cheaper than HBO and Hulu's commercial free plan.
During the last major price hike in 2014, Netflix allowed grandfathered subscribers to keep their $7.99 plan until 2016. This year is not as forgiving as Netflix intends to force every subscriber to be on the new pricing scale by December.
That money will surely be put to good use as Netflix content chief Ted Sarandos plans to spend upwards of $7 billion on original series, comedy specials, documentaries, and films. The company seems stronger than ever and if it can continue pumping out hits (despite its spotty net neutrality positions), most people probably won't mind a small price hike.