Netflix Makes Biggest Subscription Price Increase Ever | THR News - video Dailymotion

The streaming service saw its share price rise 6 percent as it's increasing costs for users as its programming and talent fees climb.

Transcript

00:00If you're looking forward to the final season

00:02of Orange is the New Black,

00:04This isn't home.

00:05This is not home.

00:08It is now.

00:09Or season three of Stranger Things.

00:12These are not nightmares.

00:15It's happening.

00:16You're going to be paying a little bit more

00:18to watch them on Netflix.

00:20The streaming service is set to make

00:22its biggest subscription price increase ever,

00:24January 15th, as programming and talent costs

00:27continue to climb.

00:28Netflix's most popular plan will see the largest hike

00:31from $11 to $13 per month.

00:34That plan offers HD streaming on up to two

00:36internet-connected devices at the same time.

00:38The single subscription price will rise from $8 to $9,

00:41and the four-subscriber plan, which offers Ultra HD,

00:44will rise from $14 to $16 per month.

00:47Existing subscribers will be notified

00:49about the pending price hike via email.

00:51A Netflix spokesperson told The Hollywood Reporter,

00:54we change pricing from time to time

00:56as we continue investing in great entertainment

00:59and improving the overall Netflix experience

01:01for the benefit of our members.

01:03The price hike will kick in immediately

01:04for new Netflix subscribers,

01:06while existing customers will see the monthly subscription

01:09increases phased in over three months.

01:11The last price increase for Netflix subscribers

01:13was in 2017.

01:14The aim then, as now, is to cover sky-high content costs,

01:18as the search heats up for the next Orange is the New Black

01:20or House of Cards, for Netflix to go up against rivals

01:23from the likes of Amazon and Hulu.

01:25For more on this story, head to THR.com.

01:28Until next time, for The Hollywood Reporter News,

01:30I'm Tiffany Taylor.