Netflix Prices Are Increasing For 17 Million Subscribers And People Are Kind Of Chill About It
Netflix and chill just got $2 more expensive.
Netflix will become a bit more expensive for roughly 17 million subscribers beginning in May, the company said Friday.
(Getty Images/AFP/Photo by Robert Sullivan)
"Netflix will be releasing a number of our members from price grandfathering on the HD plan," the company said in a statement.
In May, U.S. subscribers will be removed from the grandfather plan. They will have the option to either pay $7.99 for Netflix's SD plan or continue with the company's HD plan for $9.99.
UK subscribers will begin to be moved off the old plan beginning later this month.
The rate increase is not exactly a surprise. The company has been slowly increasing its prices.
(Bloomberg via Getty Images/Photo by Andrew Harrer)
Netflix told its shareholders in January that it would be "releasing a substantial number of our U.S. members from price grandfathering on the HD
plan."
"Given these members have been with us at least 2 years," it said. "We expect only slightly elevated churn."
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