Netflix price to increase for 17 million, most don’t know it

FILE - In this Friday, Jan. 17, 2014, file photo, a person displays Netflix on a tablet in North Andover, Mass. Some television companies are balking as more people watch shows online, and may start delaying the release of shows to streaming services like Netflix and Hulu. These studios fear that the success of streaming services might lead more households to cut back or drop cable TV services. It also comes as online services have been dabbling in creating their own television shows. (AP Photo/Elise Amendola, File)

If you’ve been a longtime customer of Netflix, your bill may be going up starting in May.

According to Business Insider, approximately 17 million customers were grandfathered in 2014 at a price of $7.99 per month for a subscription. This is 37 percent of U.S. subscribers.

But the company is increasing their rate to $9.99, which is what customers after 2014 have been paying. The $9.99 price is for the Standard HD content.

Research by JP Morgan found that about 80 percent of the customers that will be seeing the price increase didn’t know it was happening.

When Netflix changed the pricing in 2014, the company said current members were able to keep their $7.99 price for two years, and that two years has expired.

Below is Netflix’s pricing as of April 8, 2016:

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