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Surprise! Your Netflix Bill Just Got More Expensive

Netflix has publicly started a revolution that is allowing millions of people to transition from cable/satellite providers to streaming media. Of course, they are not the only company that offers streaming services. Hulu, Amazon Prime and other apps/services are also available. And it turns out that they all have more in common, beside just letting you get rid of cable and to stream lots of great content to your device of choice. It turns out that the streaming services are all becoming a bit more expensive. With Netflix being the most popular of all these services, it is no wonder that people are a bit surprised to find out that their Netflix subscription costs just went up a bit. About two years ago Netflix began charging new subscribers $9.99 a month for their basic content streaming service. This service is essentially a plan that gives people the ability to stream HD content to two devices at the same time. People who were already subscribed to Netflix prior to two years ago, were paying $7.99 per month. Those same Netflix subscribers were grandfathered in under the new rates. If you are somebody who has had Netflix for more than two years, you probably enjoyed knowing that you were paying a little bit less than some of those who were a little late coming to the party. Well, that all comes to an end, as of the beginning of May 2016. Subscribers who were paying the old $7.99 fee had to start paying $2 more each month. This is an increase that caught a lot of old-school Netflix users by surprise. This change does not take place immediately for everyone. Netflix delivered a first quarter earnings call and said that the “un-grandfather” process would start with newer customers in the beginning. Over the course of this year, everyone will start paying the higher fee, with the oldest subscribers being the last to do so. A survey was conducted and it concluded that the $24/year price increase would probably result in about 4 percent of current subscribers dropping Netflix service. Streaming Costs Continue… Read More