In order to offset the costs of doing business, Netflix has announced plans to implement its largest price increase ever. They're raising prices to $13 a month. It's the biggest increase since the company launched its streaming service 12 years ago.

The most popular plan Netflix offers, the one most of its 58-million customers have, will see the largest price hike - from $11 a month to $13. This is the option that offers high-definition streaming on up to two different internet-connected devices simultaneously.

It should be pointed out, however, that even at the higher price, Netflix is still cheaper than many of the other streaming services out there. Many of the other services available charge upwards of $15 per month.

The extra cash, they say, will be used to help pay for Netflix’s huge investment in original shows and films, and finance the heavy debt it has assumed to ward off rivals such as Amazon, Disney, and AT&T.

The most recent figures from Netflix show that the annual programming costs to run the business in 2018 was upwards of $8-billion. So, I guess in that respect, a couple more bucks a month won't break any of us - because I do like my Netflix!

Source: Associated Press

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