Deep down, we all knew this was coming.
They say if you’re good at something don’t do it for
free cheap, and let’s face it, Netflix is more than good at what they do. They’ve upped their stock with original content like award-winning series Orange is the New Black and House of Cards, as well as a substantial array of new movies and television shows. It’s only right that they’re compensated for their quantity and quality — and in fact quantity and quality are the motivation for the price hike.
The price for a monthly subscription will only be raise by $1-2, which would allow Netflix to rake in over 1 billion dollars per year. With this money Netflix is looking to provide its millions of subscribers with even more content, for only an additional $12 or $24 a year.
Additionally, the price increase will only effect new subscribers, at first. Current members will be “grandfathered”, allowing them to enjoy their current subscription price for an unspecified period of time, which is rumored to be up to 2 years.
Check back with The Source as more information regarding the Netflix price increase becomes available.
-Khari Clarke (@KINGCLARKEIII)