Price increase coming soon for millions of Netflix subscribers

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(April 8, 2016) – If you’re paying $7.99 a month for Netflix, get ready to pay more starting next month.

In May 2014, Netflix raised prices for new subscribers. First, the price went up from $7.99 to $8.99 for the company’s two-stream, HD plan; then it increased to $9.99 a month. Existing members who were paying $7.99 a month were grandfathered in for two years.

Now, time’s almost up.

In May, all grandfathered customers will pay $9.99 for the streaming service’s standard plan. According to Business Insider, the change affects 17 million customers—that’s about 37 percent of Netflix’s U.S. subscribers.

According to researchers from JP Morgan, 80 percent of customers didn’t know about the upcoming change!

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