News of the price increases have led to instant results on Wall Street, with confidence in the company's future boosting stocks to $192.24 per share. These new rates will affect US subscribers only. All subscribers will likely be notified at least 30 days in advance of their price hike. The previously priced $9.99 plan will increase to $10.99 and the premium tier will increase from $11.99 to $13.99, according to Mashable.
The middle tier that enables Netflix watching on two devices simultaneously will go up from $9.99 per month to $10.99 per month.
Starting October 5, Netflix will be raising up its prices for USA subscribers, reports Business Insider. So, if you're on a budget and counting dollars, that's less than one latte per month to make up the difference.
The last time Netflix hiked its prices was in 2015. Netflix plans to inform customers by October 19 of the change.
That lead is not going to be hurt too much by a $1 or $2 price increase.
If you are enjoying your Netflix account, you will soon be paying a little bit more to keep doing so. The company expects to spend almost $7 billion on content for its service next year, including movies, TV series and comedy specials. Current members will see their rates go up over the next several months. Although in somewhat of a classy move, Netflix was raising the price gradually, something they called "un-grandfathering".