Netflix Price Increase? How Much Will the Streaming Site Charge and When It Will Take Effect

It was a good thing while it lasted.

The Netflix Empire has just announced that they will be raising their prices in the very near future. The online streaming service says that users could see an increase of as much as two dollars per month.

In a statement to investors the company wrote that current users would stay at the fixed rate of $7.99 per month for a "generous time period," but that new users would immediately start off by paying either $8.99 or $9.99 per month depending on the country that they reside in. The price changes will go into effect within the next month.

During the first quarter of 2014, Netflix has added 4 million new subscribers bringer they current membership to 48.4 million users, all of which would experience the price increase after the "generous time period" is up, no word yet on when that will be.

This isn't the first time that Netflix has experience resistance to price changes. In 2011, Netflix tried to raise prices for its DVD-by-mail service and received backlash from its consumers saying that the price increase was too much. They wanted to increase the service from $10 per month to $16.

This price increase for their streaming services follows competitor Amazon Prime raising their yearly membership to $99. The price increase at $9.99 a month for Netflix would be around $120 a year, a little more than that of Prime.

While these prices seem a little insensitive to customers, Netflix did introduce a plan that cost $6.99 for consumers who only planned to use the service on one device.

I mean, I love "Orange is the Black" just as much as anyone else but is it really worth paying an extra $24 a year to stream it?