Netflix To Increase Their Standard Plan Pricing By $1

The video streaming service known as Netflix is an ultra popular option among consumers, especially millennials. Back in May of 2014, the executives of the service announced a $1 price bump bringing the monthly plan from $7.99 per month up to $8.99 yet another pricing change is now being forced upon us.

As of this morning, any new subscribers to the service will now be charged $9.99 for a ‘standard' plan which is the most commonly chosen option offering both high-quality streaming as well as simultaneous streaming from multiple locations. While this a $1 increase isn't anything dramatic, this decision still means that the average user will pay $24 more per year in subscription fees than we did in April of 2014.

The good news is just like the first price hike in July, current subscribers will be given a grace period before the new pricing comes into effect. Here's the official word below:

“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. As a thank you to existing Netflix members — who aren’t already benefiting from a previous price guarantee — we will maintain their current price for a year.”