You might notice something different on your Netflix bill starting next month. The company is raising prices for customers with the “Standard” and “Premium” service packages, Mashable reported Thursday.
The new prices were listed on Netflix’s website as of Thursday and would be in effect for all new subscribers starting the same day. For current customers, the price hikes won’t go into effect until November and they would have at least 30-day notice before they saw the new prices reflected on their bill. The company will start notifying customers about the price changes starting Oct. 19, according to Mashable.
The last time prices increased for the streaming services was in 2014 and the process took nearly two years to roll out to all customers. Rather than a slow roll out like last time Netflix is opting to change the prices for all users within about two months of the new price announcement. Unlike last time, loyal or long-time customers won’t get a price freeze period.
Netflix’s “Basic” plan will continue to cost users just $7.99, while the “Standard” and “Premium” plans saw increases of one dollar and two dollars, respectively. The site already shows the updated prices and what features each plan grants users.
The streaming service began creating original shows and movies in the past few years like, “Stranger Things” and “The Crown” and revivals like “Fuller House.” Earlier this year the company announced it was deep in debt, partially from the money the company spent producing original content.
Netflix has several competitors in other streaming services like Hulu, that just grabbed a Golden Globe for best drama, that costs $7.99 a month with commercials. HBO is a more expensive competitor at $14.99 a month.
When word of the new price increases got out some Twitter users expressed that they weren’t happy with the decision from the company. Some even said they would cancel their subscriptions once the new prices kicked in.
Some said they would rather not have access to the original content and keep the lower price offering.
While others thought it was a justified price jump.
But some were ok with the increase, and thought it was worth it for all the shows and movies Netflix has to offer.