Netflix to increase prices

Haven’t signed up for Nextflix yet? You might want to get on that sooner rather than later if you ever plan on becoming One of Us.

The streaming service announced Monday plans to hike up the price of new memberships by one or two dollars, depending on your country — a measure set to take effect “later this quarter,” according to a letter to investors. Existing members would be allowed to stay at their current pricing — $7.99 for those in the U.S. — for “a generous time period” before eventually paying the new higher price.

“These changes will enable us to acquire more content and deliver an even better streaming experience,” the letter from CEO Reed Hastings and CFO David Wells said.

Elsewhere in the note, the company touted its “big hit” House of Cards but declined to provide specific streaming numbers, per usual, saying only it “attracted a huge audience that would make any cable or broadcast network happy.”

Netflix added 4 million subscribers in the first quarter of the year, bringing its total subscribers to 48 million worldwide.


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