Netflix customers aren’t happy with a price hike announcement and they’re not shy about expressing their frustration.
The company has announced a fee increase amounting to six dollars a month for disk rental and online streaming packages prompting subscribers to threaten cancelations by the thousands. Some users are complaining on the Netflix blog saying they’ll consider switching to Hulu or even Redbox. Netflix says the complaints were expected from a vocal minority and points to a group of people who welcomed the move. Wall Street sent Netflix shares up nearly three-percent on Wednesday.
Under the new pricing plan, unlimited movie streaming plus rental of one DVD at a time will cost about 16-dollars, a six-dollar increase. A streaming only or single DVD at a time subscription will run about eight-dollars. The new, higher prices take effect immediately for new Netflix subscribers and in September for current customers.