Netflix Announces Price Hike

Netflix is rising its prices, and customers can say farewell to the service’s $9.99 monthly unlimited DVD-rental and streaming combination plan.

Netflix will now separate DVD and streaming services into two separate plans, each priced a $7.99. A combo plan will still be available, but an increased rate of $15.98 a month.

There will also be a standalone DVD rental plan that lets the user check out two discs at a time for $11.99 per month. The $7.99 DVD rental plan will let users check out one title at a time.

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When does the changeover take place? Immediately for new users, according to a post on the Netflix Blog (http://blog.netflix.com/2011/07/netflix-introduces-new-plans-and.html). Existing users will have until September 1 to select a new plan. You can also change your plan now by visiting your Netflix account and retooling your subscription settings.

The company last increased the cost of its unlimited DVD and streaming plan in November of 2010, which brought the markup $7.99 unlimited streaming up to $9.99 with the addition of DVDs-by-mail.