KATV Channel 7 - The Spirit of Arkansas: Netflix Addresses Price Hike

Netflix says it expects most of its subscribers to stick with the movie service through its price hike.

The DVD and streaming video rental company has been flooded with complaints after announcing it's increasing prices up to 60%.

Netflix says it expects the "negative impact" from the change to hit in the third quarter with fewer new customers and lower earnings.

But the company believes only some of its subscribers will cancel or downgrade their plans because of the price increase, which is scheduled to take effect in September.