Netflix to increase subscription prices

HBO CEO Throws a Punch – Slams Netflix's Library of Original Content, “More is not better, only better is better”

Some subscribers are sure to point out the fact that it wasn't too long ago that Netflix increased prices, and bristle against the announcement that the service is already increasing them again. Existing members will be notified of the price increase on October 19 via e-mail and in-service notifications, a Netflix representative told MONEY. Therefore, we believe that this price increase will likely be a revenue growth catalyst for the company. That increase saw the standard two streams, HD plan go up from $7.99 per month to its current $9.99 rate.

The price hike takes affect Thursday for new members. Those who prefer the ability to stream in HD or 4K will be the ones paying the extra $1 or $2 per month.

Netflix passed the 50 million subscriber mark earlier this year, passing the number of subscribers to America's largest cable companies. This makes sense, as Netflix has been investing more and more in creating original content to bring people over to its platform.

Netflix confirmed the price increase plan to Business Insider's Nathan McAlone in a statement. United Kingdom pricing has yet to be confirmed but we will update when we hear more on that front.

More news: Bonfils Blood Center seeks donations after Las Vegas massacre

Here is what you need to know about the increase. The company has committed $15.7 billion to streaming content deals - with $6 billion earmarked for 2017 alone.

At the time Netflix also pledged to not raise rates for two years. This service still continues to only cost customers $7.99 per month, reports Fortune.

The news coincided with the announcement of the Basic plan, giving Netflix's 81.5 million subscribers at the time a choice as to what subscription they wanted to go with.

The hike comes just as Netflix fans prepare for the hotly anticipated second season of Stranger Things.

Related News:

  • A quick guide on the controversy surrounding Catalonia's bid for independence

    A quick guide on the controversy surrounding Catalonia's bid for independence

    She said that Rajoy's strategy of using justice and police means to thwart the poll rather than dialogue has failed. Madrid insists that the referendum was illegal and refuses to negotiate with a government that has broken the law.
    Walmart makes last-mile delivery acquisition in NYC

    Walmart makes last-mile delivery acquisition in NYC

    It's also began testing a service that recruits Walmart employees to deliver packages to customers on their way home. The extreme density of the New York City area makes it a complicated market for delivery.
    JK attack ends, hunt on for 7 terrorists

    JK attack ends, hunt on for 7 terrorists

    Heavily armed militants stormed an Indian Border Security Force (BSF) camp early Tuesday in disputed Jammu and Kashmir's capital. Khan added, "There has to be different strategies to neutralise the terrorists as they usually come up as fidayeen attackers".
  • Free breast cancer tests at AIIMS-P

    Free breast cancer tests at AIIMS-P

    Stella McCartney lost her mother in 1998 to complications from breast cancer and Alicia Keys also witnessed her mother's battle with the illness .
    New Roku OS 8 Delivers Enhanced Entertainment Features

    New Roku OS 8 Delivers Enhanced Entertainment Features

    It can stream video in 4K ultra-high definition and high dynamic range and includes the company's top-of-the-line remote control. Roku Streaming Stick +: Updated specs like the Stick, but with 4K Ultra HD and HDR streaming at up to 60fps, starts at $69.99.
    Trump says Puerto Ricans 'want everything done for them'

    Trump says Puerto Ricans 'want everything done for them'

    The president added that besides "Fake News or politically motivated ingrates" everyone is starting to "recognize the wonderful work that has been done".
  • Home Max hands-on: Google takes on Apple's HomePod and Sonos

    Home Max hands-on: Google takes on Apple's HomePod and Sonos

    Better still, the hands-free calling feature that was only available in the United States and Canada is now coming to the UK, too. In this case, telling your Home "where's my phone" will ping the nearest Android device paired with your Google account.
    Raiders QB Derek Carr has fracture in back, out 2-4 weeks

    Raiders QB Derek Carr has fracture in back, out 2-4 weeks

    In 2014, then-Dallas Cowboys quarterback Tony Romo suffered the same injury and only missed a week, according to Rapoport . Simply put, the Raiders weren't able to show that they could get it done in their first two games without Carr past year .
    Myanmar ready to take back Rohingya refugees

    Myanmar ready to take back Rohingya refugees

    Bangladeshi Foreign Minister Ali told reporters that at the meeting Myanmar proposed to repatriate the refugees. Bangladesh's foreign minister said Monday that Myanmar "has made proposals for taking back Rohingya refugees ".
  • Russian Federation  investigation: The 'collusion issue is still open', says Senate intelligence chairman

    Russian Federation investigation: The 'collusion issue is still open', says Senate intelligence chairman

    It has accepted invitations to testify at hearings on Russian interference in front of House and Senate intelligence committees. Burr and Warner may divulge more information about social media's role in the election.
    Woman tied to Las Vegas massacre shooting suspect has Memphis connection

    Woman tied to Las Vegas massacre shooting suspect has Memphis connection

    Paddock shot himself later that evening after having fired hundreds of bullets from the 32nd floor of the Mandalay Bay hotel. Bruce Paddock, Stephen's other brother, was also shocked at his brother's ability to commit such a deadly crime.
    Rudolph named Big 12 Offensive Player of the Week

    Rudolph named Big 12 Offensive Player of the Week

    But Shimonek had trouble finding big plays downfield and Kingsbury said there were some drives Texas Tech should have scored on. Quarterback Mason Rudolph had a terrific bounce-back game after a disappointing performance against TCU the previous week.


Most liked

You've Never Seen Harrison Ford Laugh This Hard
While dispatching his victim, K discovers something that, in the words of his supervisor ( Robin Wright ), "breaks the world". At close to three hours, " Blade Runner 2049" is a long film , but it's unlikely that true partisans will notice, or mind.

Spacewalking astronauts making repairs on International Space Station in October
Three astronauts on the International Space Station (ISS) will be taking the first of three October spacewalks today. Nowadays, it is used for routine inspections outside the ISS and to latch and dock incoming cargo spacecraft.

Here are Michigan McDonald's selling Rick and Morty's legendary Szechuan sauce
The only Triad McDonald's location offering the limited-run Szechuan Sauce on Saturday is at 2241 Martin Luther King Jr. Orlando isn't the only place getting Szechuan'd; a few other Central Florida locations will also have it.

Tottenham star Kane calls Golden Boot race the 'hardest' yet
For the strongest scorer of the English Premier League "Cream" is ready to offer £ 177 million or 200 million euros. Every chance I get in and around the box I feel like I'm going to score, or definitely work the keeper", he said .

United Kingdom services sector picks up, on track for 0.3pc growth rate
However, the rate of expansion edged up only slightly on August's figures and remained weaker than the average for the first half of the year.

Stephen Paddock May Have Scouted 'Life is Beautiful' Concert
An official also confirmed to ABC News that Mandalay Bay housekeeping was asked not to visit Paddock's room during the last leg of his stay.

LaVar Ball to home school son LaMelo for next two years
Didn't take long for former Arizona Wildcat forward Dennis Latimore to find himself in LaVar Ball's crosshairs. He's the No. 30 player overall and No. 5 point guard in the 2019 recruiting class, according to Scout .

Gran Turismo Sport Demo Announced, Will Start In October 9
The True HDR workflow and physics-based rendering tech of Scapes must be experienced firsthand to be truly appreciated. Gran Turismo Sport comes out in two weeks , but before its release, Polyphony Digital will give fans an early preview.

Gran Turismo Sport Demo Drives onto PS4 Next Week
For completing each trial, you'll get multiple rewards such as in-game currency, experience points, and even new vehicles. The True HDR workflow and physics-based rendering tech of Scapes must be experienced firsthand to be truly appreciated.

Las Vegas Shooter Wired $100000 to Philippines Last Week
Reports, however, said Filipino-American Arthur Andrade, 21, was injured after he suffered bullet wounds on the stomach. An Arkansas family connected to the girlfriend of the Las Vegas gunman says they are now getting death threats.

UK's Monarch Airlines collapses after slump in pound's value
The CAA had been expected to announce today whether Monarch would be able to continue selling package holidays. Together with the CAA, we will work around the clock to ensure Monarch passengers get the support they need.

Prince Harry: I'm married to continuing the Invictus Games
NBC Universal's security detail for Markle includes 24-hour monitoring in her home in Toronto and on the set of " Suits ". Markle's mom was also in attendance, according to People , which further indicates this relationship is serious.

Russian raids killed thousands in Syria since 2015: NGO
Islamic State (IS) militants recaptured the town of Al-Qaryataynin Syria's Homs Province in fierce counterattack. Displaced Syrians are pictured carrying water containers near Ain Issa camp.

J&K: Child killed, five civilians injured as Pakistan violates ceasefire in Poonch
Yasmeen and Tazeem's mother, Sehima Bi and five-year-old sister Zobia, were also injured in the attack. Pakistan violated ceasefire at multiple occasions in September. "A dozen more were injured".

No. 21 Florida expects to be without WR Cleveland vs LSU
Head coach Jim McElwain revealed Monday that Cleveland remains in a boot and is expected to miss the next game . Franks guided the Gators on three second-half touchdown drives as he rebounded quickly from his brief demotion.