The streaming leader Netflix announced Thursday it will raise the price of its most widely used plan by $1, from $8.99 to $9.99 per month.
 
The affected plan allows for two simultaneous high-definition streams per customer. Current members continue to be charged their current price for a year, according to the company.
 
“To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America,” Netflix said in a statement. “As a thank you to existing Netflix members — who aren’t already benefiting from grandfathering — we will maintain their current price for a year.”
 
Acccording to the company’s website, Netflix has over 65 million subscribers across more than 50 countries and counting. Nutrition junior Michelle Eng said Netflix is taking advantage of its immense popularity by increasing prices.
 
“Netflix releases shows and movies each month, and it’s convenient — right at your fingertips and right where you left off,” Eng said. “It’s everything people look for in this day and age. Netflix knows that. They know they established themselves and basically replaced TV, so they have room to increase prices.”
 
The price increase is negligent in comparison to other options, finance senior Sabeen Latif, who uses Netflix, said.
 
“Netflix generally tries to keep costs down, and it’s still much cheaper than cable and going to the movies,” Latif said. “How many times do people complain they have 200 channels and nothing to watch? I think Netflix is going to make cable irrelevant.”
 
Advertising junior Sara Scarlett said she thinks the streaming channel provided to students by the Division of Housing and Food Services is a good alternative to Netflix.
 
“I use the University channel to watch movies that aren’t on Netflix. It only has movies, but it has a good variety and its free for students,” Scarlett said. “I just feel like not enough people take the time to check it out.”
 
The cheaper one stream Netflix plan is $7.99 per month, and the premium subscription remains at $11.99 per month. Password sharing may have hurt profit margins, advertising sophomore Amanda Harris said.
 
“The majority of my friends share passwords, and I think it’s adding up. The company has to afford its new content somehow,” Harris said. “I think this price raise will encourage people to switch to the one stream plan or pay their share.”