Netflix customers aren’t thrilled about the company’s plan to raise subscription prices.
Subscribers took to social media to complain after the company announced Tuesday that all three of its streaming plans will increase by $1-$2 in the coming months.
Netflix’s $11 standard plan, for instance, will cost $13 per month after the price hike.
Existing customers can expect modified bills within the next few months, while new subscribers will pay the new prices immediately.
In light of the price increases, some customers are threatening to cancel their subscriptions.
“They raising the Netflix price so now I gotta cancel it smh,” one person tweeted about the change.
They raising the Netflix price so now I gotta cancel it smh
— JB? (@NoCakesNoLove) January 15, 2019
“I’m really mad about the Netflix price hike,” someone else said. “It’s already a little out of budget for me, but I stuck with it because my mom and my little sister really enjoy using it. However, this added amount just pushes it a little over the edge or me, so I’m probably going to cancel soon.”
Another person chimed in: “Netflix doesn’t need to raise their prices. We didn’t ask for all these trash originals that they cancel after 1 season.”
Netflix doesn't need to raise their prices. We didn't ask for all these trash originals that they cancel after 1 season.
— ck (@Chandralierr) January 15, 2019
“So, @Netflix raises my prices 13% at very same time I struggle to find anything I want to watch on #Netflix (usually flipping to Prime Video instead),” another person argued. “Time to cancel and give Hulu a shot. I don’t take per se issue w/price rises, but when product is also lacking? Bad timing.”
So, @Netflix raises my prices 13% at very same time I struggle to find anything I want to watch on #Netflix (usually flipping to Prime Video instead). Time to cancel and give Hulu a shot. I don't take per se issue w/price rises, but when product is also lacking? Bad timing
— mondogarage (@mondogarage) January 15, 2019
The change is Netflix’s biggest price hike since its streaming service launched in January 2007. If no users cancel their subscriptions, the company can expect an extra $1.39 billion in revenue a year, according to MarketWatch.
Netflix’s financial revamp comes on the heels of its shift toward original content. The company recently scored a major win with Bird Box starring Sandra Bullock, a dystopian survival drama that generated at least 45 million views.
Additionally, the streaming service has attracted top talent in recent months, including Black-ish creator Kenya Barris and former ABC executive Channing Dungey.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” a Netflix spokeswoman said in a statement to the media.
The last time the company raised its subscription price was in 2017 when it increased its standard plan from $10 to $11.