Bad News for Netflix Subscribers…

Bad news Netflix fans – your subscription prices are going up.  That's right, I'm not even gonna beat around the bush on this one.

CEO Reed Hastings announced stronger-than-expected earnings and a subscribership that’s 65-million strong, but he wants to push consumers toward more expensive plans. He’s just not sure how to do it yet.

“We want to take it very slow,” Hastings said. “Over the next decade I think we’ll be able to add more content and have more value and then price that appropriately.”

What does that mean for you?  The price-hikes are coming, just not right now... But they are coming.  The company revealed yesterday that they enjoyed a 22-percent jump in quarterly revenue thanks to strong subscriber growth.

The video streaming service which produces "House of Cards" and Samm Adams' favorite "Orange is the New Black" said that revenue rose to one-point-six billion dollars for the quarter that ended June 30^th.  Netflix added nearly three-point-three million subscribers worldwide during the same period.

And you wonder why Hollywood has taken them seriously as a production player?  Wonder no more.  You might want to start charging your friends now for "borrowing" your Netflix password...

Source: The Guardian