WASHINGTON — Netflix gave millions of customers a break last time they raised their rates, but their last price increase is about to apply to everyone.
Netflix raised the price of their two-stream, HD-quality plan in May 2014 and October 2015; it stands at $9.99 per month. But the rate increases only applied to new customers — Netflix exempted existing subscribers, leaving their monthly rate at $7.99.
Starting next month, though, all customers will have to pay $9.99 a month, Business Insider reports.
Analysts at financial services company, UBS, estimate that the “un-grandfathered” customers total 17 million. A recent JP Morgan survey says that about 80 percent of those customers were unaware that the increase was about to happen. And while about 15 percent of those surveyed say they’ll cancel Netflix over the increase, UBS says only 3 to 4 percent actually will.
At $9.99 a month, Netflix will be more expensive than Amazon Prime ($99 a year), but still less than a commercial-free Hulu subscription — and way less than cable, Money reports.
