For those that forgot it was coming, Netflix is planning to increase its subscriber rates soon. The streaming service sent an email to its American subscribers this week to remind them the price hike announced in January will start in the next billing cycle.
How much? Prices are going up between one to two dollars. That’ll make the cost between nine to 16 dollars per month, depending on level of service. The company said it has budgeted eight-billion dollars for new shows and movies.
As for why, it’s because competing costs money. Netflix will be facing new competition as Apple announced recently plans to offer its own streaming service. Disney, NBC Universal and Warner Media are also considering getting into the business.