Netflix prices are about to go up

If you’re a Netflix customer, binge-watching your favorite movies and TV shows is about to cost you more than ever, thanks to a historic price hike. The popular media streaming company announced on Jan. 15 it will increase prices between 13 and 18 percent across the board.

A closer look at the Netflix price increase reveals:

  • The Basic plan (one non-HD stream per household) will increase from $7.99 to $8.99 per month — a 12-percent price hike.
  • The Standard plan (two HD-streams) goes from $10.99 to $12.99 per month —an 18-percent increase. This is Netflix’s most popular subscription plan based on user data.
  • The Premium plan (up to four Ultra HD streams) goes from $13.99 to $15.99 per month — a 14.3-percent price hike.

This new fee structure represents the largest price increase in Netflix history. New subscribers will see these prices immediately upon sign up, but current Netflix customers will see their rates go up over the next three months.

netflix photo
Getty Images | Ernesto S. Ruscio

The rate hike marks the fourth time Netflix has raised its prices, with the most recent being in 2017. With the company shelling out nearly $13 billion in original programming in 2018, company officials said they feel the price hike is a good investment in providing its customers with better entertainment options.

“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” a Netflix spokesperson said in a statement to USA Today.

Digital customers took to social media quickly with their reactions to Netflix’s price increase.

Some were quick to blame “Friends” fans for the price hike. Last year, there was an uproar when rumors started to fly about Netflix dropping the popular TV series from its lineup. Though Netflix said they never intended to drop “Friends,” The company did pay $100 million to hold onto the show.

Cue the accusations from unhappy Netflix fans that the steep price of “Friends” was being passed down to consumers:

Other customers claim this new hit to their wallets might just be what causes them to cancel their service.

What do you think? Has Netflix gone too far with its price hikes? Will you continue to subscribe to keep up with your binge-watching habits?