– by Joseph Jammer Medina

Netflix has raised the monthly price of their subscription service in the U.S. once again. The streaming service raised the Standard service by 10 percent from $9.99 a month to $10.99 a month. Those who are looking to sign up now will be faced with the updated price, whereas according to Variety, Netflix will be moving existing customers to the new rate over “the next several months.”

This change wasn’t exclusive to the Standard Plan. Their Premium Plan also suffered an increase of $2 — or around 16 percent — from $11.99 to $13.99 a month. This is the service that includes Ultra HD (4K), and allows users up to four screens to be running simultaneously (as opposed to the Standard Plans’ two screens).

This isn’t exactly a surprise. Those who have been following all things Netflix have undoubtedly noticed their spending spree as of late. In an effort to lock down original films and television programing. This year, they are looking to $6 billion, and next year, they look to spend $7 billion.

As a result, Netflix is in real debt, so it makes sense they’d turn to customers to help with the effort. The company said the following in a statement.

“From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster.”

While this may concern some users, it is likely to their long term benefit. Had they not made these investments now, when they lose studios in years to come (who will leave for their own services), they’d be hemorrhaging subscribers, who wouldn’t find their service worth.

With all this content getting locked down, they’ve continued to make their service indispensable to a lot of users, and well worth ponying up the cash. As a paying subscriber, I don’t mind paying an extra $12 a year if it guarantees tons of more content.

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SOURCE: Variety

Joseph Jammer Medina is an author, podcaster, and editor-in-chief of LRM. A graduate of Chapman University's Dodge College of Film and Television, Jammer's always had a craving for stories. From movies, television, and web content to books, anime, and manga, he's always been something of a story junkie.