Netflix has officially raised the monthly price of membership for new members, who will now have to fork over $9 a month. That’s a dollar more than the $8 price point the company has charged for several years. If you’re an existing Netflix subscriber, you don’t have to worry; the company has promised your monthly fee won’t go up for two years. Netflix says the price increase was needed to continue adding more movies and TV shows and delivering a great streaming experience. The move comes shortly after Netflix signed expensive deals with Comcast and Verizon to provide faster and more reliable access for its customers. While the improved speeds were a costly move for Netflix, the effects can already be seen. Since signing the deal with Comcast at the end of February, Netflix’s streaming speeds on Comcast have improved by 60 percent. No one likes price increases, but existing Netflix subscribers don’t have to worry yet – they can rest comfortably for the next two years and still enjoy a better streaming experience.
About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.