Millions of people have a Netflix subscription. About 58 million in just the US according to their last subscriber count in September. And that doesn't even count all the freeloaders using a friend or family member's Netflix account!

Unfortunately for all of us who are already subscribers, we're going to get hit with a price hike pretty soon. This is the biggest price hike Netflix has ever done. Prices will be going up 13-18%.

Here's a breakdown of the price changes:

Cheapest plan: increasing from $8/month to $9/month

Most popular plan (HD streaming on up to up to two different internet-connected devices at the same time): increasing from $11/month to $13/month

Premium plan (ultra HD): increasing from $14/month to $16/month

This is the first price hike from Netflix that affects all subscribers. Past hikes have only affected specific plans. This price hike takes effect immediately for new subscribers and will roll out over the next three months for current subscribers. The price increase is due to competition and the original content Netflix is creating.

An interesting thing that KARE 11 reports, says "the company is now betting it can gradually raise its prices, bolstered by a string of acclaimed hits during that past five years." Could this mean more price hikes are to come? Let's hope not...

Source: KARE 11

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