The online streaming service, Netflix is boosting the cost of certain subscription plans. A sense of "is nothing sacred?" overcame the Netflix audience, and several of our readers commented that they'd even consider cancelling their subscription over this increase.
The company also increased the monthly fee for its four-stream "family plan", from $11.99 to $13.99 per month.
The cost of the streaming video giant's basic plan, at $8 a month, will remain unchanged. The prices are already in effect for new sign-ups and will be rolling out to existing customers later this month, Netflix said.
NetflixNetflix will be raising prices for its USA subscribers starting on October 5, the company confirmed to Business Insider on Thursday.
Netflix last raised prices in October 2015, according to CBS News. That plan now costs $11.99, but it will go up to $13.99 with rate increases. Netflix is spending $6 billion on content this year, and it expects that to grow to $7 billion next year.
Netflix's selection of content changes from month to month as the service rotates out TV shows and movies while adding new ones.
Most of the subscriber growth came from outside the U.S., where Netflix has invested heavily in establishing itself as a global television service. But increasingly the landscape of streaming TV is shifting; as Netflix goes more towards originals, Hulu is doubling down on its library. If you go out to lunch at the same place every week and pay $10 for your meal but all of a sudden your meal costs $11, you're going to wonder why it's more expensive. Although in somewhat of a classy move, Netflix was raising the price gradually, something they called "un-grandfathering".
NETFLIX prices are about to increase - and it won't leave you feeling chill.
Stranger Things avoiding a sophomore slump in it's much- anticipated second season wouldn't hurt either.