Netflix’s gamble to create its own original content is apparently paying off—and soon you might be paying more.
The widely-popular Internet streaming service added 2.25 million domestic subscribers in the first quarter of this year, and reportedly surpassed its predictions internationally by adding 1.75 new streamers. Netflix currently has 48 global members—35.7 million of which reside in the United States.
In a letter to shareholders, the Los Gatos, California-based streaming company touted its original programming initiatives, such as the political thriller House of Cards, which debuted its second season in February and “attracted a huge audience that would make any cable or broadcast network happy,” Netflix said.
Netflix also mentioned its critically-acclaimed documentary The Square, about the revolution in Egypt, which earned an Oscar nomination but failed to win the award.
Nevertheless, Netflix apparently still intends to increase by one or two dollars its streaming subscription rate later this quarter for new members only—for now.
It appears existing U.S. members will be hit with the “for new members only” increased rate in the future, but Netflix will continue charging a monthly rate of $7.99 for a “generous time period,” Netflix said.
The company provided two explanations for increasing its rates:
- It saw limited impact in a January price increase for new members in Ireland.
- Increasing prices will improve Netflix’s ability to acquire more content.
Netlix seems especially proud of the content it exclusively streams to its members. Orange is the New Black, a prison dramedy, will debut its second season on June 6, and season 2 of Hemlock Grove will also premiere this summer. Netflix will also air the final six episodes of the former AMC crime drama The Killing, which has had a rocky relationship with its fan base—to say the least.
