Netflix Announces They Are Raising Their Prices

Netflix Announces They Are Raising Their Prices

LOS GATOS, CA - JANUARY 22: A sign is posted in front of the Netflix headquarters on January 22, 2014 in Los Gatos, California. Netflix will report fourth quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images)

Photo Credit: Justin Sullivan/Getty Images

Netflix announced they are raising their monthly subscription prices.

This will be the largest rate hike in the streaming service’s history. They are citing the increase as a way to pay for more of their original content. Netflix has raised their prices in the past, but this will be their first increase to affect U.S., Latin American and the Caribbean subscribers.

As far as pricing goes, the middle tier, and most popular subscription plan will now be 12.99/ month instead of $10.99. The cheapest subscription will be $8.99 only up a dollar from its, $7.99 and premium will cost $15.99. This is the company’s fourth time raising subscription prices, and the most recent one was just last year. Still with the increase, Netflix is one of the cheapest and the most popular streaming choice versus its competitors Hulu, Amazon Prime and HBO. Netlix says they will now be able to continue making more original shows like the popular BirdBox, 13 Reasons Why and Stranger Things that just announced it’s third season will be premiering in July.

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