Netflix To Raise Subscription Rates

Netflix To Raise Subscription Rates
(Los Angeles, CA) -- Netflix is raising the stakes for those who have not yet signed on to watch "House of Cards" and other Netflix fare. The video rental and streaming service is raising its monthly subscription prices a dollar or two for new customers. Netflix made the announcement Monday, saying it would move forward with the rate hike later this year after observing "little impact" with higher rates in Ireland. The company says the higher fees will go toward buying more content for its nearly 50-million global subscribers. Existing Netflix customers currently pay $7.99 a month. New customers are expected to pay about $8.99 or $9.99 a month.

Netflix last raised its rates in 2011 to much backlash after the company decided to split its DVD-by-mail and streaming services. The company bounced back to exceptional results as its streaming service caught on with more and more users.