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Netflix Plans Price Hike for New Subscribers

Thompson on Hollywood By Anne Thompson and Beth Hanna | Thompson on Hollywood April 22, 2014 at 12:39PM

It's catching on with streaming sites that it's time to charge more for their goods. A couple months ago Amazon Prime announced its annual fee would jump by $20 beginning in 2015. Now Netflix intends to raise its subscription price for new customers by $1 or $2 per month.
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Reed Hastings
Reed Hastings

Given that just about everyone we know subscribes to Netflix, the streaming site can probably get away with charging more for their goods. A couple months ago Amazon Prime announced its annual fee would jump by $20 beginning in 2015. Now Netflix intends to raise its subscription price for new customers by $1 or $2 per month.

Clearly Netflix is putting a lot of bank into its original content -- like pricey "House of Cards," and "Orange Is the New Black" -- and, per the Wall Street Journal, the subscription raise would go towards not only that continued output, but higher quality content. And their popular $7.99 per month streaming plan hasn't taken a price jump since 2011; similarly, Amazon's Prime hasn't increased in several years either.

Even after the price bump goes into effect, current subscribers would reportedly stay at the $7.99 price point for "a generous time period."

At this point Netflix has about 48 million global customers, having added about 4 million new subscribers in the first quarter of 2014. 

Meanwhile, even though the company has made a deal to pay Comcast to gain access to a more direct internet connection, now Netflix chief Reed Hastings has made clear his strong opposition to the cable operator's $45 million merger bid to take over Time Warner Cable, saying that it would give them “anti-competitive leverage.”

This article is related to: News, Netflix, News


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Born and raised in Manhattan, Anne Thompson grew up going to the Thalia and The New Yorker and wound up at grad Cinema Studies at NYU. She worked at United Artists and Film Comment before heading west as that magazine's west coast editor. She wrote for the LA Weekly, Sight and Sound, Empire, The New York Times and Entertainment Weekly before serving as West Coast Editor of Premiere. She wrote for The Washington Post, The London Observer, Wired, More, and Vanity Fair, and did staff stints at The Hollywood Reporter and Variety. She eventually took her blog Thompson on Hollywood to Indiewire. She taught film criticism at USC Critical Studies, and continues to host the fall semester of “Sneak Previews” for UCLA Extension.