Netflix Announces It’s Raising Prices

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Netflix announced on Thursday a $1 price increase on its most popular plan to $9.99 per month, up from $8.99.

The plan offers two simultaneous streams for each customer. Netflix said standard-plan customers not already grandfathered into a lower price will continue to pay $8.99 until October 2016.

A cheaper, non-HD $7.99 per month plan is still available. The premium subscription remains at $11.99 per month.

Last year, the standard plan increased from $7.99 to $8.99 per month.

Netflix said the increase allows the company to “bring more great content to users.”

“To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America. As a thank you to existing Netflix members — who aren’t already benefiting from a previous price guarantee — we will maintain their current price for a year,” the company said in an email to Tribune Broadcasting.

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