Netflix announced some less-than-stellar news this past week. The streaming media company says that it will be raising the subscription price for new customers by a $1 per month. New customers will have to pay $9.99 for the service, and those with older plans will likely see their price per month increase to $9.99 in another year or so. Netflix explains that the reason for the price increase is so that the company can continue to acquire more and better content. In a subscription-based, streaming market that’s becoming increasingly competitive, Netflix needs to have better content if it wants to keep its customers. HBO’s own service will be getting ‘Sesame Street’ and a dedicated news service with ‘Vice’. Netflix saw its stock price drop with its recent announcements, but it hopes that an increase in price will help raise the money it needs to stay competitive.
Read the full article here: Netflix says its price hike is all about acquiring more content