It was only a matter of time. Longtime Netflix users, who've been getting by with the "grandfathered" rate of $7.99 a month, will soon be asked to shell out $9.99 a month, or they'll lose their high-definition streaming capabilities.

It's not the first time Netflix has raised prices, but it is the first time those grandfathered customers will have to make a choice as to weather to keep their rate or lose quality.

In a letter to shareholders on Tuesday, TIME reports, Netflix said subscribers will soon have new options: Keep the lower rate and get downgraded to standard-definition streaming only, or pay the same as new customers ($9.99) and get the same "high-definition" benefits.

The difference comes out to nearly $25 per year. Netflix doesn't expect much turnover from subscribers. The streaming-media provider is confident users will see the value in high-def and choose to stick around.

[via TIME

Kate Storey Esquire Writer-at-Large Kate Storey is a Writer-at-Large for Esquire covering culture, politics, and style.

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