Newcomers to the world of Netflix can expect to pay $1 a month more for the service than current subscribers.
The standard package (which offers the same access to the full library as Netflix’s basic and premium packages, but allows viewing on two screens at once) has increased to $9.99 per month, from $8.99 in the U.S., Canada and Latin America, but only for new customers. Existing customers will be guaranteed their $8.99 monthly fee for one year before the increase takes effect, a rep for the SVOD confirmed.
The price of the basic ($7.99) and premium ($11.99) plans will not be affected. A basic package only allows users to stream on one device at a time (and does not offer content in HD) while a premium package offers four streams at once.
News of the fee increase was positive news for Netflix stocks — the SVOD opened on Oct. 8 at $108.48 per share and shot to $115.01 by days’ end, its highest point in more than one month.
Meanwhile, public reaction to the price hike around the internet has been tame for the most part, with few on social media expressing anything but mild disappointment in the decision.
Netflix raises monthly price by a dollar “Sorry bae, can’t afford to chill”
— Dale G. (@buffaloser) October 9, 2015
Netflix said the price of the brick going up? Tragic
— Malcolm Aux (@TeflonVaughn) October 9, 2015
Wow Netflix raising their price by $1. They have NO CHILL!
— Logie (@ItsLogie) October 9, 2015
Netflix raises their price $1. Big woop. If you cant afford that you probably shouldnt have netflix. — Manuel Leon (@Starmanuel) October 9, 2015