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SAN FRANCISCO (CBSMiami/AP) — Effective immediately, Netflix announced its hiking up their most popular streaming plan to $10 a month in the U.S and other countries.
That’s a $1 increase from its previous price and the company says its to help cover the escalating costs for original programming like “House of Cards,” and “Orange is the New Black,” which is expected to rise from $3 billion to $5 billion next year.
The new plan allows two simultaneous high-definition streams per customer. A cheaper non-HD plan will remain in effect for $7.99 a month.
Older subscribers will be grandfathered in for accounts opened prior to May 2014 and will continue to pay $8 a month under the two-year rate freeze that ends October 2016.
Despite the hike, the price still remains competitive to other streaming video giants. Hulu offers an ad-free option for $12/month or $8/month with commercials. Amazon Prime costs $99 for a year ($8.25/month) but includes free two-day shipping for purchases on their website.
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