Netflix price hike to hit Irish customers in November

Netflix price hike to hit Irish customers in November

Those who are currently on the $9.99 plan will now have to add one more dollar and pay $10.99 per month. With upcoming shows like The Punisher, the company is indeed gearing up to shell out a major amount of money to develop good content and hence the hike in the prices. According to Mashable, Netflix will be focusing on adding more original series, documentaries, and comedy specials to its already impressive lineup. The standard tier, as previously mentioned, gets a $1 increase.

Wedbush's Michael Pachter, who is bearish on Netflix, said he doesn't expect the hike to push subscribers away, but thinks attracting new subscribers will be more hard and expects net adds to be down year-over-year in 2018.

As we explain in more detail in our Netflix guide, there are three different subscription plans available to subscribers.

The spokesperson added that existing users will begin receiving notifications on October 19. While the new prices go into effect for consumers just subscribing to Netflix, existing members won't see their rates go up until sometime next month.

This year, the company has is spending $6 billion and has plans to raise that amount to $7 billion next year.

More news: Google balloons to help restore Puerto Rico's cell networks

Why is Netflix raising its prices in the UK?

The price change is the first increase by Netflix in two years. In 2011, they offered a DVD and streaming service for under $10.

Back in 2015 its CEO Reed Hastings announced that Netflix would start to slowly increase subscription costs over the next decade as the company grew.

It's understandable that people would be upset over price increases, but these probably aren't the last ones that consumers will have to deal with.

While the basic tier users are probably happy that there is no change to their plan, Netflix will probably experience some pushback from users in the other tiers.

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