Whyyyyyy: Netflix Is Raising Its Prices

Day ruined.

For the past few years, you've been paying $7.99 a month for Netflix so you (and maybe your friends...) can watch unlimited movies/TV, and life has been relatively great, no?

Yeah well, bubble burst: Netflix is planning to increase the price of its monthly subscription. So. There's *that* sucky piece of information to ruin your week.

Netflix CEO Reed Hastings opened up about the future of Netflix at a recent investors' meeting (opens in new tab), and even though the prices aren't going to change this year, there is a price hike coming soon. "We want to take it very slow," Hastings said. "Over the next decade I think we'll be able to add more content and have more value and then price that appropriately."

To make things worse, they're probably going to be buckling down on customers sharing their passwords. "We also want to motivate people to move up to the two-stream and the high-def and the ultra-high-def [plans]," Hastings said. He didn't elaborate on what methods they would be using to motivate people to move up to a more expensive plan, but chances are it'll be to crack down on people with the basic plan who are sharing their password with the fam.

This news is probably devastating for you, seeing as Netflix's cheap plans and ability to share your account with others was what made the streaming service so amazing on your strict (practically non-existent) budget.

Hopefully when Netflix does raise their prices, you won't need a second job to accommodate your nightly Orange is the New Black Netflix binges.

When I'm not holed up in my room going on a completely unproductive Netflix binge or Tumblr stalking Timothée Chalomet, I'm searching for awesome celeb news stories that Seventeen readers will love!