Netflix’s ‘Orange’ brings green
SAN FRANCISCO— Netflix is preparing a sequel unlikely to be a hit with its subscribers. The Internet video service is about to raise its prices for the first time in three years to help pay for more Internet programming, such as “Orange Is The New Black” and its popular political drama “House of Cards.”
The increase, to take place before July, will hike prices by $1 or $2 per month for new customers. The company’s nearly 36 million current subscribers will continue to pay $8 per month for the next year, Netflix CEO Reed Hastings said in a Monday interview.
“When we look at the shows and movies that we will be able to get if we have a bigger budget, it’s exciting,” Hastings told The Associated Press. “We want to make the service better and better so more people will join.” Netflix announced the looming price increase as part of a solid first-quarter earnings report.