Netflix raises its most popular monthly subscription rate by 18%

Netflix subscribers, expect to see your monthly fee raised anywhere from 13 to 18% very soon. It’s the largest price hike since the streaming service rolled out in 2007.

Netflix has one of the most popular plans around which allows high-definition streaming on up to two devices. Unfortunately, it will take the biggest hit from the price hike, jumping from $11 to $13 per month.

By comparison, HBO offers its streaming service at $15 per month, and Amazon Prime is $13 per month (or $120 yearly), while Hulu offers an ad-free streaming service for $12 per month. Horror streaming service Shudder is the least expensive at $4.99 per month (or $49.99 yearly), but their genre selection is, obviously, more limited.

Now, you might think Netflix would be worried about losing a large chunk of their subscribers, but the service seems pretty confident thanks to their recent huge hits. Series and movies such as House of Cards, Stranger Things, Orange is the New Black, The Haunting of Hill House and Bird Box have all been successful, bringing Netflix to the forefront of quality original programming.

In fact, Netflix’s stock went up 6% with news of the price hike. The extra money will likely be used to pay off debt that was taken on to compete with their rival streaming services. Let’s face it, creating quality programming with high profile actors doesn’t come cheap!

Netflix’s most recent price increase hit subscribers in late 2017, but this is the first time price hikes will impact all of their 58 million customers. Their most basic plan was $8 per month, and it will be raised to $9. The premium plan, which offers ultra-high definition, is jumping from $14 to $16 per month.

Netflix -Bird Box – Courtesy of Netflix

My take on all of this? I think Netflix may lose a few subscribers, but as long as they continue to roll out quality programming, most of us will take the hit and keep watching. While horror is my preferred genre, I am not immune to the charms of Tidying Up with Marie Kondo and The Strange Creations of Christine McConnell. And, goodness knows, Netflix has been a force to be reckoned with where its horror offerings are concerned. Both Hill House and Netflix original Cam were worth the $13 per month!

Netflix -Cam—image courtesy of Netflix

I also have Amazon Prime, but, to be honest, I mostly take advantage of the free shipping perk. I have watched some movies on Prime, watched (and mostly liked) the first season of Lore, and fully intend to binge on The Marvelous Mrs. Maisel one of these days…but it just hasn’t happened yet. I haven’t really been terribly impressed with their newer movie options, or at least not the free ones.

New subscribers will be paying the higher rate immediately, while those of us who currently subscribe can expect to see the increase within the next three months.

What do you think, readers? Will any of you give up on Netflix and cancel your subscriptions? Or, do you think the series and original movies are worth the extra money?

Let us know your thoughts on this move from the streaming giant in the section below.