Netflix Raises Prices 60%; Cuts Level Of Service
Add Netflix to the list of companies that have decided to raise their prices and cut back on their service at the same time. Just like food companies that raise their prices while shrinking package size, Netflix has rolled out a new pricing tier that "unbundles" their DVD and streaming service. Customers who want to continue to get both types of service will have to sign up for two different packages -- all the while paying more for it.
...60% more to be exact!
Company spokespeople say that this will offer customers a "great value".
"By better reflecting the underlying costs and offering our lowest prices ever for unlimited DVD, we hope to provide a great value to our current and future DVD-by-mail members," Andy Rendich, chief service and operations officer for Netflix, said in the release.