Netflix raising subscription prices for most popular plans

Stranger Things

The hike comes just as Netflix fans prepare for the hotly anticipated second season of Stranger Things.

Netflix made the announcement earlier today that its standard streaming plan would be jumping from $9.99 per month to $10.99 a month. The top tier that includes ultra HD and four-device simultaneous viewing will go from $11.99 per month to $13.99 per month.

Netflix said it will give customers 30 days notice of the price raise, the timing of which will depend on their billing cycle.

People may not like them, but price increases will likely continue to be necessary as Netflix spends more and more on content - close to $7 billion next year, according to its content boss Ted Sarandos.

Netflix isn't giving anyone a break this time around. Nearly exactly two years ago, Netflix raised its prices for new members and began to "un-grandfather" existing customers into the new price levels.

If you're in any doubt what plan you are now on, you can check in the "plan details" in the account option on your user profile.

But paying for exclusive TV series and films hasn't been cheap. About $12 a year for Netflix, Inc. The prices are already in effect for new sign-ups and will be rolling out to existing customers later this month, Netflix said.

It can't come as a huge surprise that Netflix is upping their rates.

RBC Capital Markets analyst Mark Mahaney believes Netflix's programming line-up is so compelling that the service could charge even higher prices and still retain most of its audience. Netflix lost 600,000 subscribers and its stock price plummeted by 80 percent in the subsequent backlash. Since then, the company has added a downloading feature, introduced interactive content, and announced a slew of new content. The last price hike was back in 2014-2015, but the new standard plan price of $10.99 is still below Hulu's (mostly) ad free option at $11.99.

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