The majority of subscribers will not be happy with paying $12-24 more per year to receive Netflix.
The standard service, which allows customers to stream shows and movies in HD on up to two screens at once, is now priced at $10.99 monthly, up from $9.99. The price change will roll out to members over the course of the next several months.
Still, despite the price increase, Netflix will remain a much better deal than cable, in terms of viewing time.
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Tests by MarketWatch staffers show there was no increase listed for customer's current plans.
Netflix is going to be increasing the membership fee for some of the more popular streaming plans available to customers by one dollar, which means a year of Netflix the way you are now enjoying it may cost you an extra $12 to $24 a year. It will start emailing notifications about the new prices to affected subscribers October 19, giving them 30 days to accept the higher rates, switch to a cheaper plan or cancel the service. The basic plan that offers single-screen streaming remains at $7.99 per month.
According to a Netflix spokesperson, users will be notified of the new prices based on their billing cycle and will get 30 days notice before the changes takes effect.
Netflix believes its price rate is justified by recent service improvements, such as a feature that allows people to download shows onto phones or other devices to watch them offline. Next year, Netflix will likely spend $7 billion, chief content officer Ted Sarandos said earlier this week at a Vanity Fair entertainment conference in Los Angeles. This is the logic that prevents some consumers from ditching cable: At a certain point, the cost of an internet plan plus various streaming services equals the price of the traditional TV bundle, or at least is competitive enough that it's mostly a wash.