Netflix prices are about to rise for millions of subscribers

Starting next month, Netflix customers who enjoyed a grandfathered subscription price of $7.99 per month will see in increase in their monthly fee to $9.99.

The increase matches the price increase Netflix implemented for new subscribers last year.

According to Yahoo, an estimated 37% of Netflix's subscriber base - around 17 million customers - is still paying the grandfathered rate, so millions are going to be paying more for Netflix starting in May.

But things have changed drastically from two years ago, giving customers more bang for their buck.

The company has produced tons of original content that has become very popular including Orange is the New Black, Jessica Jones, and Unbreakable Kimmy Schmidt.

Netflix's $9.99 subscription fee still costs less than the commercial-free version of Hulu, but it does now cost more than Amazon Instant.