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Netflix Plans Price Hike for New Subscribers

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by Anne Thompson and Beth Hanna
April 22, 2014 12:39 PM
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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.”

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