Netflix is raising monthly fees for its subscribers again by between 13 percent and 18 percent, as it spends heavily on original content and international expansion.
Its most popular plan will see the largest hike, to $13 per month from $11.
That option offers high-definition streaming on up to two different internet-connected devices simultaneously.
This is its biggest increase since the company launched its video streaming service 12 years ago, and the third hike in five years.
The extra cash will help to pay for Netflix’s huge investment in original shows and films and finance the heavy debt it has assumed to ward off rivals such as Amazon, Disney and AT&T.
While subscribers might bemoan a bigger monthly bill, Wall Street cheered, sending Netflix’s shares up 6.5 percent today.
Social media’s reaction tells a different story than Wall Street:
If #Netflix raises prices I’m unsubscribing. This day and age too many expenses and wages aren’t keeping up. People think bc it’s relatively “cheap” it’s affordable meanwhile slowly becoming poorer. Applicable to many industries we buy into.
— STEFY (@xoxo_stefy) January 16, 2019
Can Netflix chill out
— Martin® (@Martiniii313) January 15, 2019
The face you make when Netflix raises its subscription prices. pic.twitter.com/7wcl3GzBAN
— ??????? ???? (@Furious_Brow) January 16, 2019
So Netflix is going to just keep inching up prices all the time? Their shows aren’t even that good, about to cancel.
— Astartes (@EmperorsShield) January 15, 2019
Netflix is only raising their prices because y’all complained so much about friends.
— ryan (@RepRyan13) January 15, 2019
@netflix you can’t cancel top rated shows like “Daredevil” and then turn around and raise prices. That’s not how it works
— Mike Deeley (@madmanizking78) January 16, 2019
Netflix is raising prices again? I was already paying $14/mo for 4K content on an account I barely used. I’ll probably just have to cancel and get my content elsewhere because I’m pretty sure that money could be used for better things, tbh.
— Sham (@thesaucem) January 15, 2019
Want to quickly STOP @netflix price hikes? Cancel. It’s simple. Supply and demand. When they demand higher costs, if the masses refuse to pay them, the only option is to bring prices back down. Go without #netflix for 6 months and watch the prices drop.
— MasonMacJohn (@JohnMeussner) January 15, 2019
I will cancel Netflix. Its the whole reason why I cut cable #Cost
— CRYSTAL (@TEAMSC00TER) January 16, 2019
— 4 (@nadroj47) January 15, 2019
— ElDiPablo (@eldipablo) January 16, 2019
@netflix first you cancel @Daredevil without any consideration to the fans with even a note as to why (been pretty disrespectful how you’ve treated everyone involved over this) You renew Friends for an insane amount of money and now you are raising monthly fees? You’re the worst
— X-ie ! #Save Daredevil (@XieGVinson) January 16, 2019
#Netflix what the fuck? Why do I suddenly have to pay 24 more dollars a year? Thanks for letting me cancel my membership.
— Alpha_Texan (@AlphaTexan_) January 16, 2019
— ?Debbie ♋️? (@DebraLynn014) January 15, 2019
Netflix raising their prices again .. nah I’m going to have to cancel that shit .. it’s getting ridiculous..
— Clari (@HazelAvatar2) January 15, 2019
Well time to cancel my netflix account
— APXV3 (@apxv3) January 15, 2019
@netflix we get it, you have the best streaming service. Your price hike has caused me to cancel on principals. Not fair, hopefully others will follow. Price gouging at its finest. Are you guys now a crowdfunding app?
— Shayne klahr (@shayne_klahr) January 16, 2019