Netflix raises subscription prices by $1 for new subscribers

Netflix raises subscription prices by $1 for new subscribers

Video streaming service Netflix is increasing its subscription plan by $1 for new subscribers. The company needs the additional cash to add more TV shows and movies to its library.

Current subscribers who pay $7.99 per month won’t have to worry about the price hike for two years. New subscribers will have to pay $8.99. If you can’t afford that $1 per month increase, you can opt for the standard definition only streaming plan for $7.99.

As Netflix focuses on becoming a content creator with shows like House of Cards and Orange is the New Black, the company faces high production costs. There are reports that creating 26 episodes of House of Cards cost Netflix over $100 million.

Source: Netflix

Via: The Verge

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