It isn't very often that Netflix inspires a groan or two from its worldwide subscriber-base, but the streaming giant made an announcement on Thursday that will no doubt spark the ire of its American customers: Netflix is raising its prices again.
The disconcerting move will only affect middle and top-tier payment plans, which are increasing from $9.99 to $10.99 for the standard package, while premium users will see their monthly payments jump from $11.99 to $13.99. Those cord-cutting on a budget with the basic, $7.99 plan will see no changes to their monthly payments.
Although business is booming for Netflix, which saw its clientele balloon across the globe to 100 million subscribers earlier this year, the price hikes will fund the company's hugely popular original programming. Your favorite Netflix shows and comedy specials are eating a massive $16 billion portion of Netflix's budget this year. In a statement released Thursday morning, the company said: