Andre Yoskowitz
21 Apr 2014 18:31
Following their quarterly earnings report this afternoon, Netflix has announced it will be raising the price for new subscribers to its streaming catalog.
Currently at $7.99 per month for unlimited streaming and multiple profiles, the price will increase by $1 or $2 depending on where you live in the world. The new price change goes into effect later in the quarter, most likely in June.
Netflix says current users will get to keep their grandfathered pricing for a "generous time period." The company previously tested pricing variations in Ireland.
The company justified the small price increase by noting how much content they have added in the past year, especially in original programming. The added revenue will go towards more acquisitions and to "deliver an even better streaming experience."