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LOS ANGELES (Reuters) - Netflix Inc said on Monday it will raise prices about 20 percent for subscribers who rent Blu-ray discs rather than standard DVDs.
The new prices go into effect on or after April 27, the company told subscribers in an email. Prices for standard definition service will remain the same, the company said.
Netflix members can disable the Blu-ray preference on their online accounts to avoid the price increase and receive standard definition DVDs, the company said.
The price increase comes as nearly 10 percent of Netflix's 10 million-plus subscribers have switched to the "substantially more expensive" Blu-ray discs, the company said.
Netflix said it will use the additional revenue to add to its selection of more than 1,300 Blu-ray titles and to keep up with costs associated with the growing Blu-ray contingent."
Reporting by Gina Keating; Editing by Andre Grenon