Get ready to pay a little extra for Netflix and chill starting next month as the company is preparing to make good on a promise it made two years ago. Back in 2014, Netflix announced that it was going to increase the price for the HD streaming plan from $8 to $10 a month, or from $7.99 to $9.99 if you want to get into specifics. Those who were already using the service back then were spared the price hike, however, the company did say that this was only temporary. How temporary? About two years or so. As you may have guessed from the not so subtle title, that two-year period expires next month, which means that millions of people will have to pay $10 a month starting with May if they want to keep using Netflix.
This change won’t affect more recent subscribers who were already paying $10 a month, so go back and continue to chill in peace at the same price if you’re one of them. That said, 17 million people are using Netflix for more than 2 years according to the latest statistics and most of them have probably long forgotten about the price increase promised in 2014. According to a report by Business Insider, about 80% of those 17 million have no idea they will be charged more starting next month, and who can blame them? Netflix didn’t exactly come out to remind people about this, unfortunately.
According to the same report, those 17 million users represent roughly 37% of Netflix’s total subscriber base. While some users claim that they will cancel their subscription because of the price hike, it is estimated that only about 3-4% of them will actually go through with it. That’s certainly an important loss for the company, but on the other hand, it’s pretty safe to say that the 2 extra bucks it gains from everyone else who sticks with them more than makes up for it.
Earlier this year, Netflix launched in 130 new countries, though it didn’t arrive with the full library of shows in most of them. In fact, the Netflix library keeps shrinking as the company produces more and more original content. A lot of people are pretty unhappy with this trend, but for the most part, most users still seem to be happy with the service regardless.
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