Netflix just made a huge announcement and it's not necessarily one that will make you happy.
They just announced their biggest price-hike in its 12-year history! 😞😞😞
This is actually their second increase in 15 months. Here's the new price breakdown:
-The standard, most popular plan will go from $11 per month to $13
-The lowest plan will go from $8 to $9
-The highest plan with ultra-high definition will jump from $14 to $16.
So most people will be paying another $2 a month, or $24 a year.
The rate change will be phased in over the next three months for all current customers. And it'll be immediate for any new subscribers.
A big reason for this is that Netflix is keeping subscribers happy. Last month, they dropped $100 million to keep "Friends" for another year, and "Variety" says they spent $13 BILLION on content last year.