Netflix Streaming Subscription Price To Be Raised For New Membership

New reports confirm Netflix will indeed raise the price of its streaming subscription service by $1 or $2 dollars per month. The price increase is expected to roll out this quarter within the next two to three months and will only affect new members.

TheWrap reports that Netflix CEO Reed Hastings and CFO David Wells announced in a letter to investors, “Our current view is to do a one or two dollar increase, depending on the country, later this quarter for new members only."

This rate increase is the latest attempt since Netflix tried to separate its streaming service into a separate company in 2011.

As for current Netflix customers it would seem we’re not so safe from the price increase after all. The letter includes the following message saying we will definitely see a price increase too:

“Existing members would stay at current pricing (e.g. $7.99 in the U.S.) for a generous time period.”