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Netflix Subscription Price Increases By $1: Existing Members Will Receive One-Year Price Lock

Netflix subscribers will have to dish out more money for their subscription in order for them to watch their favorite series.  As per International Business Times, the company made a statement via their representative stating that starting Thursday, it's standard subscription option would be $9.99; which is a $1 increase for new customers in US, Canada and some parts of Latin America.

The company made it clear however that amidst the new price hike, old subscribers that were already included in the price guarantee last 2014 [$7.99 to $8.99], will no longer receive an additional extension. Some costumers will be having their price locked for a limited time.

"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, As a thank you to existing Netflix members -- who aren't already benefiting from a previous price guarantee -- we will maintain their current price for a year."

The increase in pricing took effect just two months after the company increased their subscription charges from 9 Euros to 10 for new customers in Europe. As per the company, the Netflix subscription price increase took place in order for them to provide better service for them to expand their original programming world-wide. Their original docu drama series "Narcos" is one manifestation that Netflix is making an attempt in capturing a world-wide market.

Just last year, Netflix announced their price hike via email which shocked most customers. As per Huffington Post, the company even announced that the increase would be around $1 and could go up to $2. In order for them to keep values customers, Netflix decided to prioritize old members by give them a lower price of only $7.99 for a two-year subscription. They also set customers expectations by discussing the possibility of having a $2 increase. 


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