Netflix reveals new prices

Current subscribers will not see the increase for two years.
LOS GATOS, CALIFORNIA – Netflix sent an email to subscribers Friday detailing the change in prices coming to the video-streaming service, and promising existing subscribers would not see a change for two years.

The email sent said, “In order to continue adding more movies and TV shows, we are increasing our price from $7.99 to $8.99 for new members. As a thank you for being a member of Netflix already, we guarantee that your plan and price will not change for two years.

Netflix said in April it was planning a price hike of $1 to $2 per month.

The number of subscribers to has increased significantly in recent years. The company had 40 million subscribers in 2013, compares with less than 10 million in 2008.
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