Netflix is increasing its subscription prices for 17 million customers

Netflix are set to increase subscription prices for millions of customers.

The service announced two years ago that it would gradually increase prices, though those who had previously subscribed received a special price freeze over that period.

Now that freeze – called the “grandfathering” period – where previous subscribers stayed at $7.99 per month, will come to an end next month, with an increased charge of $9.99 set to apply to everyone on the standard HD subscription.

This is estimated to affect around 37 per cent of subscribers in the US, which amounts to around 17 million people.

However, about 80 per cent of those “grandfathered” customers are oblivious to the increase, according to a JP Morgan survey (via Business Insider), and only around 15 per cent said they would cancel their subscriptions.

Similar increases are set to come to the UK as Netflix previously announced a price hike of 50p for new UK customers on its basic HD subscription package.

This news item can be discussed here