Netflix is raising the price of their most popular plan by $1, the company announced Thursday.
The cost of the standard streaming plan will jump from $8.99 to $9.99 beginning immediately. The move applies to users in the U.S. and Canada, and follows similar price increases in Latin America and Europe.
The company tweeted replies to some of its users that the price hike only applies to new subscribers. Those with subscriptions at the lower price point will be “grandfathered” in.
@LaciePassmore So we can brig more great content to users, the price for the 2-stream is going from 8.99- 9.99 for new members.
— Netflix US (@netflix) October 8, 2015
The basic $7.99 plan which does not allow for HD streaming and the premium $11.99 plan which can be accessed by 4 screens simultaneously will not be affected by the increase.
@jakecbaum Nope! This increase will only apply to the 2 screen plans. 🙂 *TW – Netflix CS (@Netflixhelps) October 8, 2015
@max_d_meridius @business Dollar increase is only for new members, current member’s plans aren’t affected.
– Netflix US (@netflix) October 8, 2015
Hulu, one of Netflix’s key competitors, introduced Sept. 2 a commercial-free subscription option for $11.99 per month. None of Netflix’s plans are ad-supported.
In April, cable channel HBO launched its standalone streaming service HBO Now, offering it to customers for $14.99 per month.
