Update From Netflix HQ: Your Binge-Watching Habit Is Going To Get Pricier

Photo: Courtesy of Netflix.
We apologize for this interruption. You may return to your Orange Is the New Black recap in a moment, but first, a word from on high — Netflix CEO Reed Hastings, that is. In an interview with investors last Wednesday, he announced that the streaming service plans on gradually increasing its subscription prices.

Two key bright-side points: We will not see any price hike in the immediate three months, and the actual increase will take place over the next decade. Apologies to those who had already broken out in a cold sweat; maybe we should have opened with this info.

It's because of shows like OITNB that Netflix is planning on increasing its rates. In case you haven't heard this year's Emmy nominations, Netflix's original content is doing quite well for itself, and, naturally, the company would like to see its success continue. With more programming comes a need for more money, so the standard-package price of $7.99 per month will eventually be a thing of the past.

No word yet on exactly how much the new monthly fee will be. As Hastings explained, the final subscription-rate value still depends on future developments: "Over the next decade, I think we’ll be able to add more content and have more value, and then price that appropriately.”

And now, back to your regularly scheduled programming.

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