It’s going to cost a whole lot more to see a movie – at home.
Netflix is hiking its monthly rates a whopping 60% for subscribers who opt to rent DVDs through the mail as well as stream video over the Internet.
The California-based company Tuesday told its members it was raising prices effective Sept. 1, when it will no longer offer its cheapest package of $9.99 per month for unlimited streaming and one DVD at a time by mail.
Netflix’s more than 23 million U.S. subscribers will instead pay $15.98 a month for both options together, according to a statement on Netflix’s company blog.
Otherwise, subscribers will have to pay $7.99 for either an unlimited streaming plan or $7.99 for a DVD-only plan of one disc at a time. The new prices go into effect immediately for new members.
Netflix reps did not respond to a Daily News request for comment, but the blog – which called it “our lowest prices ever for unlimited DVDs” – said the changes were necessary because “Given the long life we think DVDs by mail will have, treating DVDs as a $2 add-on to our unlimited streaming plan neither makes great financial sense nor satisfies people who just want DVDs,” the post said.
The price hike didn’t sit well with movie-loving couch potatoes who enjoy getting unlimited films and TV shows instantly over computers, tablets, smartphones or Internet-connected TVs for way less than the cost of sitting in a theater.
A steady stream of disgruntledcustomers took to Twitter to complain Tuesday.
“Netflix has the b—s to try to disguise a 60% price increase as their ‘lowest prices ever’?” said one Tweet.
“I wouldn’t mind the new Netflix price gouging AS much if their streaming catalogue wasn’t pathetic,” read another Tweet. “Mark me down as another person who will cancel their longtime Netflix membership once the new plans kick in.”
Netflix, which began streaming video over high-speed Internet connections in 2007, this month announced plans to expand its online service to more than 40 Latin American and Caribbean countries.
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