During the month of May, Netflix will raise their prices, making the company’s HD plan $9.99/month, a $2 increase from the original price. Those who do not want to spend the extra cash have the option of paying the original $7.99, but will only receive the SD plan. While disappointing, this should not actually come as a surprise to consumers.
Netflix has been talking about raising their prices for months, first making new customers pay the raised fee of $9.99, and soon, longtime customers that were grandfathered into the $7.99 price will also pay the increased fee.
Despite the variety of reactions Netflix has gotten from customers since the announcement, they are hoping for little backlash from their loyal customers. Customers have taken to twitter to express their opinions on the raise in price, some planning on canceling their Netflix accounts, and others labeling those who consider canceling their accounts as “cheap.” Some customers feel that $2 extra per month isn’t horrible, but fear that the company will continue to raise prices.
“I definitely won’t cancel Netflix,” said Sophomore Maddie Brodier, “but I think they will continue raising the prices because they know people will continue to pay for their services.”
“Honestly, I love Netflix too much to care,” said Sophomore Kaylee Tao. “They’ve totally monopolized the market, so good for them.”
There’s no doubt that Netflix will lose some customers because of the raised price, but it seems that the company will continue to dominate the video streaming market.