Netflix plans to increase subscription price

The on demand streaming service that has brought the world House of Cards and Orange is the New Black is poised to raise monthly subscriptions by $1 to $2 in the coming year

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Netflix plans to increase subscription price
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Lounging around in your pyjamas and binging on boxsets at the touch of a button is about to get a little bit more expensive...

Netflix has announced plans to implement a price increase later this year. 

In a letter to its shareholders, the on demand streaming service has revealed plans to hike up the price by one or two dollars a month, which is between 60 pence and £1.20. 

"Our current view is to do a one or two dollar increase, depending on the country, later this quarter," reads the statement, adding that the price increase will the for new members only: "Existing members would stay at current pricing for a generous time period."

"These changes will enable us to acquire more content and deliver an even better streaming experience," continues the letter. 

Netflix, which is responsible for bringing us shows like House of Cards, Orange is the New Black and Breaking Bad, is making the decision tohike the cost of using its extensive TV and film library as it announces an increase in members.

The company has revealed that it now has nearly 50 million members globally, with the service attracting over 3 million new subscribers in the last financial quarter.