With new original content, higher demand for their product, and arguably some of the best technology in the entertainment biz, streaming service Netflix is raising its price-point from $8.99/month to $9.99/month. This isn't a huge deal to some, since it's only an extra $12/year, but this should increase the company's revenue by quite a bit.
Here's the justification for the price increase from a Netflix rep:
“To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America."
Before you say this is so "Orange is the New- whack," please consider the facts. If you already had the service, you'll keep paying $8.99/month for the next 12 months, after which time your bill will be adjusted to reflect the new price. New subscribers will have to throw in the $1/month additional fee, though.
The growing company has 65 million streaming customers worldwide, and this number is only getting bigger. In May 2014, the company raised the price of the two-stream plan by $1, from $7.99 to $8.99. At that time, it informed existing customers that it wouldn't raise their rates for two years.
Now, we have this news. It'll be slightly more costly to get your Narcos fix now. And "Netflix and chill" is turning into a more costly endeavor as well.