Netflix Raising Prices For New Subscribers

By Joe Gullo

Published 05/09 2014 02:03PM

Updated 05/09 2014 02:06PM

BEVERLY HILLS, Calif. - New Netflix subscribers will now have to pay a dollar more.

The company sent an e-mail to subscribers saying it's raising prices to $8.99 per month.

That only applies to new subscribers for now.

Netflix says current members will be locked into their $7.99 a month rate for two years.

Netflix warned last month that it was planning a price increase so it could "continue adding more movies and TV shows."

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