Netflix is raising its monthly price $1 to $9.99 for new customers starting November 11, 2015. Current customers will still pay $8.99 until October 2016. (No word on customers still grandfathered at $7.99.)
This only affects the two stream package. The one stream and premium packages have not been mentioned at this time. It appears the $11.99 premium package will stay at $1.99 a month.
Netflix US (@netflix) October 8, 2015
The price increase is meant to bring in additional revenue to help offset costs from creating original content like House of Cards. It will also help address costs accrued by its plan to be in almost every country in the world by the end of 2016.
While no one ever likes to see price increases, this $1 price hike could help Netflix bring in a larger number of shows and produce more original content.
This was a long-rumored happening since Netflix announced its aggressive plans to expand both original content and its footprint around the world.