Originally posted April 22: Nothing lasts forever, especially not prices. So it goes with Netflix, which has announced that it will raise its monthly subscriber fees for the first time in three years. In the coming months, the company will increase the flat $7.99 rate by one or two additional dollars.
The good news, however, is that the increase would only immediately affect new subscribers. "Existing members would stay at current pricing for a generous time period," Netflix said in a letter to shareholders. That means, anyone with a current Netflix account in the U.S. will remain on the $7.99 tier for the time being.
The decision comes after Netflix experimented with raising prices for new members in Ireland, where current members were grandfathered in for two years, while new subscribers were asked to pay one more Euro per month. The impact, the company said, was "limited."
Netflix promised shareholders that the higher monthly fees would allow it "to acquire more content and deliver an even better streaming experience."
Translation: More House of Cards. (Wall Street Journal)
For all your streaming needs, check out:
20 Hidden Gems From The Depths Of Netflix
The Girl-Power Guide To Netflix
Mean Girls (& So Much More) Is Coming To Netflix