The top tier option, which provides streaming on four screens at once and allows access to Ultra HD videos, is also increasing from $11.99/month to $13.99/month. The service's basic plan is staying at $7.99/month, letting users stream only in standard definition on one screen at a time.
The exact time that the new prices will show up will vary depending on each subscriber's billing cycle, but starting on October 19 Netflix will send out emails with "at least" 30 days of notice ahead of the bump in price. Regarding the changes, Netflix provided the following statement:
"From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster."For the last price change, Netflix CEO Reed Hastings wrote a letter to company investors about an "unexpected" loss of subscribers following the price hike from $7.99 to $9.99. At the time, Hastings said that, "Whatever the price is for something, people don’t like for it to go up," while still claiming that the new price tiers were "working great" for new members who were not grandfathered into the $7.99/month model.