How Much Is Netflix Raising Its Prices? Its Biggest Hike Yet Is Coming

The internet is not happy right now, especially with the news that Netflix subscription fees are going up. Even though plenty of people aren’t happy about a price increase, there’s no need to panic yet.

So what’s the deal with the streaming service raising rates? As of last week, you had your choice of an $8-, $11- or $14-a-month plan. But now new customers—and eventually all existing customers—will have to pay between $1 and $2 more per month, bringing you to a $9, $13 or $16 monthly bill. Have we mentioned the internet isn’t thrilled by this?

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If you’re wondering why the seemingly stellar service now has to charge more, it isn’t because they’re in financial trouble. Basically, they’re spending a good chunk of change on new content, according to CNN. Last year the streaming service spent a reported $8 billion on new and original content.

To be fair, the cost of pretty much everything goes up over time…so, shouldn’t we really have expected this kind of minuscule change? Before you rush off to ditch your subscription over the new higher prices, consider this: a large latte at just about any coffee retailer costs more than Netflix’s monthly price increase of $1 to $2 more. But you’re likely to treat yourself to one almost daily.

Instead of cutting ties with the service that brings you small screen gems such as Stranger Things, Ozark, Orange is the New Black, The Crown and so much more, skip the take-out coffee and make a totally free cup at home.

—Erica Loop

Featured photo: Freestocks.org via Unsplash

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