Netflix Canada officially raises prices for new subscribers

After previously announcing a price hike for new members in the US, Netflix is bringing the price increase to Canada but to new subscribers first. Those who will sign up for Netflix now will pay $8.99 instead of $7.99.  Current customers will not feel the effects of the price hike for at least two years. Netflix said in an email to existing subscribers: "As a thank you for being a member of Netflix already, we guarantee your plan and price (excluding tax) will not change for two years."

The company cites the raising costs of managing its large data flow over the internet infrastructure and having to release more funds to create and obtain rights for exclusive shows like Orange Is The New Black and House of Cards.

Source: CBC