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But that doesn't mean they'll cancel their subscriptions. Millions of Netflix customers are about to start paying more to stream their favorite movies and TV showsâand chances are, they donât even realize it. In May 2014, Netflix raised the price of its standard streaming plan for new subscribers, to $9.99 a month. However, the price hike did not apply to existing customers, who were grandfathered into their current rates of $7.99 a month for a two-stream, HD plan, Business Insider reported.
Netflix bumped up the price of streaming movies and TV shows for new members by $1, but vowed that existing members will not see a price increase for two years. Netflix (NFLX) sent an email to subscribers Friday, telling them that only new members would be paying $8.99 a month.Existing subscribers will keep paying $7.99 a month. The company said it was increasing prices in order to continue adding more movies and TV shows..Netflix had warned last month that it was planning a price hike. At the time, the company said it would be between $1 to $2.Related: Viewership soars for House of Cards.Subscribers have been flocking to Netflix in recent years.etflix had warned last month that it was planning a price hike. At the time, the company said it would be between $1 to $2. Related: Viewership soars for House of Cards. Subscribers have been flocking to Netflix in recent years.