Longtime Netflix customer? You could get hit with a $2 increase in your monthly bill.
On Tuesday, the company revealed in its quarterly earnings report that customers streaming under the grandfathered $7.99 HD plan will face a choice: either pay the same price for standard definition, or pay $9.99 to continue watching in HD.
Netflix raised the price of its HD plan to $9.99 for new customers back in October 2015.
Netflix doesn't appear too worried that those customers will jump ship. "Given these members have been with us at least 2 years, we expect only slightly elevated churn," the company said.
Overall, business at Netflix looks pretty good, with the company reporting an increase of 5.59 million members in the fourth fiscal quarter, bringing total membership to more than 74 million. U.S. growth, though, is slowing: Netflix added 1.56 million U.S. subscribers from October through December, slightly below what management had projected.
At the Consumer Electronics Conference in Las Vegas earlier this month, Netflix announced that it was launching in 130 countries, including the world's second most populous country, India, for 500 rupees ($7.50) per month.
