Netflix Raises Prices for New Customers Bloomberg

Netflix has implemented a price increase for new customers. Bloomberg reports that the online streaming service boosted prices for new customers by $1 a month, to $8.99.

The price hike is the first for Netflix in three years, the story reports.

The streaming service also introduced a $7.99 plan that doesn’t allow high-definition service or allow customers to watch programs on more than one device, the story notes.

Customers who already have accounts will continue to pay the same price for two more years, the report adds.