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Study says Netflix’s $2 price increase could cost it almost half a million customers

Last month Netflix began increasing its monthly subscription rate by $2 for some customers’ plans—with the bump hitting other customers by this October. Now a new study by Nomura Securities says that $2 increase could cost the company as many as 480,000 customers who will choose to cancel their service instead, reports Variety. However, some good news from the study: Even if half a million subscribers cancel, Netflix will still make an additional $520 million in annual revenue from the current 46.5 million U.S. customers who stuck around.

[Image: Netflix]MG