Netflix Rate Hike Starts Today

By Sajid Farooq
|  Thursday, Sep 1, 2011  |  Updated 10:21 AM PDT
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Netflix Rate Hike Starts Today

Netflix's controversial rate hike starts Thursday.

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The ire of Netflix's customers comes to fruition Thursday.

The movie rental and streaming services much-maligned rate hikes go into effect Thursday and customers are not happy about the 60 percent bump.

Last month the Los Gatos-based company announced it would begin charging $7.99 a month for unlimited streaming and one for one DVD at a time for $7.99 a month.

The move hurt Netflix's otherwise stellar reputation with its customers, whose previous concerns centered around whether there might be a temporary streaming outage or not.

A survey of 1,100 Netflix subscribers in July showed that about 22 percent said they planned to cancel their subscriptions because of the price hike.

Many of them said they would migrate their viewing habits to other services such as Hulu. Thursday will be Netflix's moment of truth to see if the price hike does cause a mass exodus or if it turns out to be more armchair hype than anything else.
 

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