Oct 5, 2017 - Economy

Netflix is about to charge you more

A person displays Netflix on a tablet in North Andover, Mass. Photo: Elise Amendola / AP

Netflix is raising the price on its most popular video plan from $10 a month to $11 a month, a change which could affect most of Netflix's 53 million U.S. subscribers. The plan in question allows users to stream simultaneously from multiple devices. Netflix is also charging more on its ultra-high definition video streaming, which is going up from $12 a month to $14 a month.

Why it's happening: Netflix is trying to foot the bill to subsidize increased programming costs, in part due to original programming in the pipeline (its first original programming only just kicked off in 2013 with "House of Cards"). It's expected to spend nearly $7 billion on programming this year alone to meet consumer demands, and costs may rise more for Netflix to stay competitive with other on-demand video platforms.

Users can expect an email Oct. 19 and they'll be given 30 days to act — either agree to the increased charges, change plans, or cancel the subscription altogether.

Not up for changes: A plan that only allows you to watch Netflix on one device at a time (sans high-def) will remain at $8 per month.

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