Netflix will raise prices soon
In the company’s quarterly earnings report released Monday, Netflix officials said new members will see a price increase of between $1 and $2. The increase is expected some time before June.
But the price increase could still hit current users; officials said current plans will remain in effect for a “generous time period.”
Reports say that Netflix added four million new subscribers in the first quarter of this year.
Officials also publicly announced that Netflix opposes Comcast’s impending $45 billion merger with Time Warner Cable.
Netflix CEO Reed Hastings, in his first-quarter letter to shareholders, said:
“If the Comcast and Time Warner Cable merger is approved, the combined company’s footprint will pass over 60 percent of U.S. broadband households, after the proposed divestiture, with most of those homes having Comcast as the only option for truly high-speed broadband. Comcast could control high-speed broadband to the majority of American homes. … The combined company would possess even more anti-competitive leverage to charge arbitrary interconnection tolls for access to their customers. For this reason, Netflix opposes this merger.”