Netflix hiking price of standard streaming plan to $10 per month

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By Variety

Netflix is raising the price of its most popular plan, which offers access to two HD streams concurrently, from $8.99 to $9.99 per month for new subscribers in the U.S., Canada and Latin America.

"To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America," a Netflix rep wrote in an emailed statement.

SEE MORE: Netflix brings binge-watching to the sky by letting you stream on airplanes

Netflix said that current pricing for existing subscribers on the "standard" plan will remain in place for 12 months, unless they're already covered by a price guarantee with a longer term.

It's the company's second price hike in the U.S. in less than two years. Netflix, which has more than 65 million streaming customers worldwide, in May 2014 raised the price of the two-stream plan by $1, from $7.99 to $8.99. It informed existing customers then that it wouldn't raise their rates for two years.

When it bumped up pricing last year, Netflix introduced a single-stream, non-HD plan (the "basic" plan) for $7.99 monthly; that pricing will not change. In addition, the company's "premium" plan — offering up to four simultaneous streams and access to 4K Ultra HD titles — will remain unchanged at $11.99 per month.

This past August, Netflix implemented a 10% price increase for its European markets for the standard two-stream HD subscription service for new members.

Netflix's latest price increase was first reported by Bloomberg. The Los Gatos, Calif.-based company is scheduled to report third-quarter 2015 earnings on Oct. 14.

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Netflix hiking price of standard streaming plan to $10 per month
400303 03: Ready-to-be-shipped DVDs roll down an assembly line January 29, 2002 in San Jose, CA. The online DVD rental site Netflix.com has 500,000 subscribers who can rent, receive and return unlimited discs per month by mail. (Photo By Justin Sullivan/Getty Images)
400303 01: Netflix.com Chief Executive Officer Reed Hastings holds a ready-to-be-shipped DVD January 29, 2002 in San Jose, CA. The online DVD rental site has 500,000 subscribers who can rent, receive and return unlimited discs per month by mail. (Photo By Justin Sullivan/Getty Images)
400303 05: Packages of DVDs await shipment at the Netflix.com headquarters January 29, 2002 in San Jose, CA. The online DVD rental site has 500,000 subscribers who can rent, receive and return unlimited discs per month by mail. (Photo By Justin Sullivan/Getty Images)
Netflix CEO Reed Hastings gives a keynote address, January 6, 2016 at the CES 2016 Consumer Electronics Show in Las Vegas, Nevada. AFP PHOTO / ROBYN BECK / AFP / ROBYN BECK (Photo credit should read ROBYN BECK/AFP/Getty Images)
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