Netflix has announced plans to increase prices.

Netflix announced their first quarter earnings today. They also looked towards the future and discussed upcoming changes in pricing.

Netflix will begin charging new customers more.

Netflix CEO Reed Hastings said, "If we want to continue to expand, to do more great original content... we have to eventually increase prices a little bit."

ABC News has details on the increase:

The increase, to take place sometime before July, will hike prices by $1 or $2 per month for new customers. The Los Gatos, Calif. company says current U.S. subscribers will continue to pay $8 per month for a "generous time period."

Not sure how long a "generous time period" is, but I hope it's a long time.

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