Well, Damn. You're About to Start Paying More for Netflix

Well, Damn. You're About to Start Paying More for Netflix

Well, Damn. You're About to Start Paying More for Netflix

Netflix posted the new prices on its website on Thursday morning.

The cost of the video streaming giant and TV game-changer's most popular US plan is going up by $1 to $10.99, it was announced Thursday. Current customers will be notified 30 days in advance.

The basic plan, which allows single-screen streaming only, will stay at $7.99 per month.

The Standard plan is now $9.99 a month and come November, that amount will jump to $11.99 a month. The full implementation of the new prices is expected to take several months. It was previously $9.99 per month.

At the time Netflix also pledged to not raise rates for two years.

The company is scheduled to report quarterly earnings on October 16, which should offer a sense of its global drive for subscriptions as well as any sign of a ceiling for USA subscription levels. The last time Netflix raised its prices was in 2015, and since then it has implemented a downloading feature and more interactive content, according to THR.

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The middle tier that enables Netflix watching on two devices simultaneously will go up from $9.99 per month to $10.99 per month.

What do you think, will you be put off by the 10 percent price hike that you'll cancel Netflix? You let us know. Meanwhile, companies keep adding features and original video; Netflix is likely to spend $6 billion this year on content costs.

Netflix is gearing up to increase prices on their standard and premium plans.

For Netflix newcomers, the cost of joining would go from $7.99 a month to $8.99 a month. As of the end of June, the company had about 52 million USA streaming members.

The hike comes just as Netflix fans prepare for the hotly anticipated second season of Stranger Things.

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