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Netflix looking to raise prices

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If you have been debating whether or not to get Netflix, now may be the time to do it.

According to the Huffington Post, the company said in a letter to shareholders that it is going to raise prices for new members by the end of June.

Netflix said if they raised their price, they would be able to give users a better streaming experience.

The letter stated, “In the U.S. we have greatly improved our content selection since we introduced our streaming plan in 2010 at $7.99 per month. Our current view is to do a one or two dollar increase, depending on the country, later this quarter for new members only.  Existing members would stay at current pricing (e.g. $7.99 in the U.S.) for a generous time period. These changes will enable us to acquire more content and deliver an even better streaming experience.”

The Huffington Post reports that the last time Netflix announced a price hike, subscribers fled, and the stock price sank.

As of now, Netflix has not announced how long the “generous time period” will last for the existing members