Netflix raises the price for U.S. streaming subscriptions
Netflix has once again raised the price of HD streaming plans and we aren’t happy about it.
Netflix announced today that price for the two-stream HD plan and the four-stream Family Plan. The two-stream HD plan is being raised from $10.99 to $11.99, and the four-stream HD plan — which includes the select content for Ultra HD 4k format — is moving from $11.99 to $13.99.
According to Variety, new users will come in at the new prices, while existing subscribers will be migrated to the new price in the coming months. Netflix shares on Wallstreet are currently enjoying an all-time high and Variety notes that many Wallstreet experts believe the hike in price is due to the ever-expanding price of creating original content like Stranger Things which is due to premiere its highly-anticipated second season on October 27.
In a statement, Netflix explained the price hike:
"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"
Here’s the rub: With so many streaming services out there to choose from, and with Disney announcing it would leave Netflix — pulling all Disney content from the streaming service — and create its own signature streaming service, raising prices on loyal subscribers might be a bad move on Netflix’s part.
Long-time subscribers of Netflix might simply find it much easier to make the jump to another streaming service, like Hulu for instance, which just started its own live-television beta, allowing Hulu subscribers to watch live-tv for a very affordable price, all the while having access to Hulu’s streaming library.
Next: Stranger Things season 2 to feature a new monster and bigger story
Back to the Netflix price change, Wallstreet doesn’t think the streaming service will be affected by subscription loss, as many viewers will leave then come back when a show they want to see begins streaming.