Netflix’s CEO Defends Increasing Subscription Cost

Netflix and's only a dollar

Hold on to your credit card kids because Netflix is upping their monthly subscription cost. But don’t grasp too hard, because it’s only a dollar.

The streaming service announced their price hike over the weekend, and to nobody’s surprise many people were less than happy about it. CEO Reed Hastings was quick to comment on rationale behind the hike, which was “to acquire and offer high quality content, which is the number one member request,” he said.

This will have been the second hike in the last year, when back in 2014 it was upped from $7.99 to $8.99. Though existing customers won’t see this price increase until a year from now, and if you managed to stay away from the last price increase, you’ll be upped from $7.99 to $9.99 in May.

This comes after customers made a bit of a kick-up last month when Netflix didn’t renew their contract with EPIX, the company that provides Netflix with blockbuster films like The Hunger Games and Inception.

As annoying as a price increase is, it’s only a dollar. Considering the amount of original content that Netflix adds each month it’s doesn’t seem like too much to ask. Besides, who can put a price tag on Netflix & chill?

Main image courtesy of Shardayyy via Flickr