How Will Netflix's Price Hikes Hit You?

The price increase for new customers in the USA became effective on Thursday.

According to multiple outlets, including Tech Crunch, Netflix will bump its $9.99 HD streaming to two separate devices plan up to $10.99, and the streaming for up to four devices plan will be bumped from $11.99 to $13.99.

Wall Street appeared to approve of the move, as Netflix shares were up almost 4% to $191 apiece in midday trading.

In the coming quarters, analysts will be focused on subscription numbers to see how much churn the price hike causes.

The changes affect new USA members, while existing members will be alerted of the price change on October 19 ahead of their next billing cycle.

If you are enjoying your Netflix account, you will soon be paying a little bit more to keep doing so.

More news: Port Authority workers head to Puerto Rico for relief efforts

Despite the increased expense, Netflix remains competitive with streaming rivals. Netflix told Mashable that it occasionally raises prices in order to add more content and features to the platform. The company expects to spend almost $7 billion on content for its service next year, including movies, TV series and comedy specials.

As of the end of June, Netflix had about 52 million USA streaming subscribers, and 104 million total worldwide. Netflix has also benefited from a low cost and widespread support across televisions, set-top boxes, video game consoles, and other hardware, making it cheap and easy for users to access its content. This package was previously only $11.99 per month.

All your favourite Netflix shows are about to come at a higher price.

Netflix has several competitors in other streaming services like Hulu, that just grabbed a Golden Globe for best drama, that costs $7.99 a month with commercials.

RBC Capital Markets analyst Mark Mahaney believes Netflix's programming line-up is so compelling that the service could charge even higher prices and still retain most of its audience.

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