Netflix Boosts Prices For New Subscribers

SAN FRANCISCO (May 9, 2014) Netflix is raising its Internet video prices by $1 per month for new subscribers, but it’s giving its current U.S. subscribers a two-year break from the higher rates.

The changes mean that anyone who signs up for Netflix's video subscription service beginning Friday will pay $9 per month while Netflix's existing 36 million U.S. subscribers will continue to pay $8 per month until May 2016.

The price increase, Netflix's first in nearly three years, isn't surprise.

The Los Gatos, California, company disclosed its plans to raise its rates last month without specifying the precise amount.

Netflix Inc. say its needs more money so it can afford to pay for more original programming along the lines of its Emmy award-winning political drama "House of Cards."

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