If You Are A Netflix Lover We Have Some Bad News For You
Bad news, Netflix junkies: Your bill (might) be going up soon.
On Tuesday, the popular streaming site announced longterm users paying $7.99 per month on an old plan will have to start forking over $9.99 a month in order to keep watching movies and TV in high-definition. Subscribers looking to continue paying $7.99 can do so, but they'll be downgraded to standard definition.
Netflix announced the price hike in a letter to shareholders, according to TIME. Though the increase adds up to about $25 annually, the company doesn't expect to lose many subscribers, especially since all customers who signed up over the past two years are already paying $9.99.
Fortunately, the increase only applies to those users who've been grandfathered in on Netflix's old, cheaper plan. Though it's unclear how many users will be affected.