Netflix Subscriptions in the U.S. Are About to Get More Expensive

Enjoy your $9.99 Netflix subscription while it lasts, because prices for the streaming service are about to go up—but only in the U.S.

The basic single-screen streaming service will remain at $7.99. However, customers who pay for the “Standard” plan that allows viewers to watch Netflix shows on two screens at once will increase from $9.99 to $10.99 a month, while subscribers on Netflix’s “Premium” plan will pay $13.99 a month. Originally, customers using the top-tier service paid $11.99 a month to stream high-resolution content on four devices simultaneously.

In a statement to Mashable released on Thursday, the streaming giant said that the price increases were due to the flood of new TV shows and movies debuting on Netflix.

“From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster."

10_05_netflix_02 Attendees wait in line to enter the Netflix booth at Comic Con International in San Diego, California, July 21, 2017. Reuters

Subscribers won’t see the updated price points on their bills until November, depending on users’ bill cycles, but Netflix said customers will be notified of the increases in their October bill statements.

Netflix last hiked prices in 2014, which similarly was attributed to increased TV show and movie offerings. 

The increases likely won’t have an effect on the number of subscriptions the popular streaming service has.

As more and more TV-watchers ditch their cable plans for streaming providers on TV, computers, mobile devices and tablets, the number of people opting for Netflix over competitors such as Hulu and Amazon continues to rise. With more than 50 million subscribers in the U.S. and 100 million customers worldwide, Netflix is already beating U.S. cable subscription totals (48 million).

Analysts predict Netflix will see subscriptions rise to more than 160 million within the next three years, with international customers becoming the largest audience.

“We believe Netflix is well positioned to have over 100 million international subscribers by 2020, along with ongoing operating margin expansion as the company spreads content and marketing spend over a growing installed base," senior research analysts Michael Olsen of investment bank Piper Jaffray said in a statement to CNBC.

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