The current monthly cost for Netflix's online streaming service is $7.99. In the first quarter of 2014, streaming subscriptions increased by 2.25 million people.
"If we want to continue to expand, to do more great original content... we have to eventually increase prices a little bit," Hastings said on a conference call, according to CNN Money.
It's likely the price increase will coincide with the June 6 premiere of Orange Is the New Black's second season.
Hastings and Netflix's Chief Financial Officer David Wells also released a join statement speaking out against the proposed merger of Comcast and Time Warner Cable. "Comcast is already dominant enough to be able to capture unprecedented fees from... services such as Netflix," they wrote. "The combined company would possess even more anti-competitive leverage."
Would you be willing to pay more money for a Netflix subscription?