They’re lucky I’m still waiting for the next season of BoJack Horseman.
Are you a huge fan of binging on TV shows and movies? Well, bad news for Netflix lovers out there. The video streaming service is planning to undergo a price hike, starting next month.
The company first announced the news back in January, and it’s been rolling out hikes since then. It says that the increased revenue coming from the hikes would help it add more television series and movies, considering the cost to make original shows.
Next month, US subscribers will start seeing an increase by $1-2 per monthly subscription. The basic plan will soon cost $9 instead of $8, the standard plan with HD streaming will go from $11 to $13, while the premium plan with 4K streaming will cost $16 instead of $14.
Although this may look like bad news to subscribers, stock prices for Netflix have been actually rising since the initial announcement, suggesting that investors seem to like the idea. To be exact, Netflix’s stock price jumped 6% after the first announcement in January.
The increased revenue isn’t wasted, however, as Netflix has been investing in more original content than ever before. In 2017, the video streaming service budgeted $8 billion just for its new shows and movies for the coming year.
