Netflix is raising its prices
FILE - In this Monday, Nov. 22, 2010, file photo, a movie selected from among Netflix's "Watch Instantly" titles begins to download on a home computer screen in New York. Netflix is testing new price plans for streaming video as it tries to lure more viewers. (AP Photo/James H. Collins, File)
Netflix is raising its prices for new members, and prices for existing members will follow suit after that.
CEO Reed Hastings said in the company’s Q1 letter to shareholders that “our current view is to do a one or two dollar increase, depending on the country, later this quarter for new members only,” according to the Verge.
He said existing members will be able to stay at the $7.99 plan for a “generous time period” before being bumped up to the more expensive plan. He said raising prices will let Netflix “acquire more content and deliver an even better streaming experience.”
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