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Netflix will increase subscription prices over the next 10 years, CEO Reed Hastings says

Netflix will be increasing the price of subscriptions

Netflix will be increasing the price of subscriptions over the next decade, the CEO said on Wednesday. Photo Credit: FLICKR/pkingdesign

Oh Netflix.

Netflix's prices will increase over the next decade as the streaming service grows, CEO Reed Hastings said on Wednesday.

"We want to take it very slow," said Hastings in an interview with the Guardian. "Over the next decade I think we'll be able to add more content and have more value and then price that appropriately."

Hastings said prices will not increase this quarter, but they will go up over the next decade.

Oh and you know how you use your roommate's cousin's mom's password? Hastings didn't specify, but the Guardian speculates that Netflix may soon be less tolerant of password sharing. Netflix is working to "motivate people up to the two-stream and the high-def and the ultra-high def."

Last month, Netflix took in $838 million from its streaming service in the U.S. alone, according to the Guardian. Its international web video service brought in $307 million, and the rental service still brings in $130 million. However, the cost of third-party content is $7.7 billion, 4.6 times the revenue.

Overall, Netflix has 65 million subscribers. In 2013, Netflix ventured into original programming, and nabbed 34 Emmy nominations on Thursday.


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