Netflix price hike confirmed - here's how much more you'll have to pay

Stranger Things

Its most useful subscription plan will see an even larger increase in its price.

The increase will be the first in two years for Netflix, although it won't seem that way for millions of subscribers. Their premium plan, which now is priced at $12 for 4K and streaming on four screens simultaneously, will cost $14, a $2 increase.

The price for the basic plan, which limits viewing to one screen and standard definition, will stay put at $7.99. This upcoming price hike will affect users over a much shorter time span; all subscribers will pay the new rate by December. We believe that Netflix's pricing power has increased materially over the past few years as their content slate and technology has improved.

Following Netflix's price increases in the second and third quarters of 2016, when most USA subs on the two-stream plan saw their monthly rate increase $2 per month to $9.99, overall churn "was noticeable but still modest relative to the size of the price increase", UBS's Mitchelson noted.

Netflix said the increase is for new members in the USA, and it plans to start letting current members know about increases on October 19, at least 30 days before they can expect to see an increase. The company which has about 53 million subscribers, last raised prices two years ago. Keep in mind, the prices shown below don't reflect the new price changes. The company expects to spend almost $7 billion on content for its service next year, including movies, TV series and comedy specials. If you want these shows, then it's going to cost, and I'm just thankful that the price increase is a very modest 10 percent.

The streaming behemoth will raise subscription prices for the middle and premium bundles by $1 and $2, respectively.

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