Last October, we told you about the reported increased subscription fees for Netflix. But, it's been a little while. The holidays came and went since then, so it may have slipped your mind. Luckily, Netflix is sending out a reminder. $10 monthly subscriptions are coming.
The rate increase doesn't seem to be due to any sort of financial distress. Instead, it seems to be the opposite as popularity for the streaming service continues to grow. Recently, Netflix announced its quarterly earnings, reporting 40 million subscribers in the U.S. alone, and 75 million worldwide.
So, why is the company raising its prices? The additional revenue is intended to help cover the company's expansion into areas such as 4K Ultra HD, new options for better streaming quality and the production of Netflix original series, like "Orange Is The New Black."
Existing members were grandfathered in at the rate of $8 or $9 for an additional year, but many of those extensions are about to expire. That's why Netflix is sending out reminders so customers won't be surprised by the new balance on their bill.
Subscribers will still have the option of an $8-per-month basic plan. However, this basic subscription has its own drawbacks - the most notable of which is its lack of HD video.
Although the price increase is unavoidable, at least there's still a way to get more bang for your buck. Just use these codes to find hidden genres in the Netflix library.