Netflix Streaming Account Price Hikes: Get Ready to Spend More on HD, Ultra HD & More

Well here's some pretty terrible news for you to end the week on a sad note: Netflix is going to raise its account subscription pricing, you guys. According to a new announcement to subscribers from CEO Reed Hastings, our beloved $7.99 per month streaming services will fall victim to a price hike, plus other pricing options will be implemented soon. We usually hear about new shows and series coming to the streaming service, so this is definitely disappointing! Do you want to experience HD streaming? How about "Ultra HD?" Well, get ready to pay for it-literally. Read more on this news below.

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During Netflix's 2015 second quarter earnings discussion with investors, Reed dropped this bombshell, which then made its way around the internet. According to The Guardian's report on this announcement, a lot of changes are on the way, but definitely not in 2015 (via UPROXX / Cosmopolitan).

The current pricing for a streaming account will soon become the Standard Definition version, with HD and Ultra HD also featured as options with higher prices. Hastings told his investors, "we also want to motivate people to move up to the two-stream and the high-def and the ultra-high-def,"which means the company is really going to push subscribers to pay more money.

"We want to take it very slow," Hastings said this week. "Over the next decade I think we'll be able to add more content and have more value and then price that appropriately."

So what exactly does this news mean to you? If you're a Netflix subscriber, you're eventually going to have to pay more money for the content you currently pay very little money. That's just how this is playing out, which is not too great.

What do you think of this news? Let us know in the comments section below!