Netflix subscribers will have to dig a little deeper into their pockets if they want to keep watching The Office reruns on repeat. According to Variety, the streaming giant will be letting some U.S subscribers know that their fees will be hiked as early as May.
At the top of the year, the company announced that it will eventually be raising its subscription for all plans. These new rates applied to new customers immediately, while previous customers would be eased into their new payment plans. As reported, the increase is the biggest spike since the company was founded in 1997. Moving forward, Netflix's Standard plan will cost customers an extra $2 a month, increasing the price from $10.99. The Premium plan will also move by two bucks, bringing its price to $15.99. Those with the Basic plan will experience the least amount of change. Instead of paying $7.99 a month, they'll have to dish out an extra four quarters to satisfy the new charge of $8.99.
According to Netflix, customers can thank the company's new emphasis on producing quality original content for the new rates. In a statement released when it first revealed the changes, the streaming service explained that its motive is to "continue investing in great entertainment and improving the overall Netflix experience." For those skeptical of its intentions, it should be noted that in a 2018 survey conducted by the Wall Street Journal, more than 70% of Netflix customers felt like their experience has improved since they first subscribed.
These pending improvements are assumed to bring features that will help Netflix compete with upcoming streaming services being launched by Disney, AT&T, and Apple. Also, it's rumored that Netflix is looking to acquire popular series and movie franchises to help consolidate the number of streaming services that customers are forced to have in order to view their desired content.
