Netflix has now lowered their DVD rental fees

Online DVD rental company Netflix has announced their decision to lower the price of its two most popular subscription plans by a $1 per month.

The company as a result is going to loose millions of dollars in revenue as they aim to take away customers from rival service provider Blockbuster Inc.

Netflix is now going to charge $16.99 per month for a plan that allows subscribers to keep up to three DVDs at a time. This plan also has no limits on how frequently the discs can be mailed back in return for another movie.

A similar plan allowing customers to keep one DVD at a time would cost $8.99 per month.

With these cheaper rates, Netflix is now marching the prices charged by Blockbuster for similar online-only services. These two plans are the most popular plans used by millions of Netflix customers.

Popularity: 34%