Netflix Warning Subscribers Its Price Hike Takes Effect Next Month

Netflix is planning to increase its subscriber rates soon. The streaming service sent an email to its U.S. subscribers this week to remind them the price hike announced in January will start in the next billing cycle. Prices are going up between one to two dollars. That will make the cost between nine to 16 dollars per month, depending on level of service. The company said it has budgeted eight-billion dollars for new shows and movies. Netflix will be facing new competition as Apple announced recently it was planning to offer its own streaming service. Disney, NBC Universal and Warner Media are also considering getting into the business.