Will You Foot The Bill When Netflix Increases Its Rates?

Social networks exploded late last night when news broke that Netflix would be increasing its DVD and online movie rental packages by nearly 60 percent.

Netflix users let their opinion be known when more than 40,000 users left disapproving messages on the popular movie service's Facebook page.

Twitter users reacted no differently, many vowing to never again use Netflix.

In a press releaseit will now separate its online streaming and mail-in movie options.

Users will have to purchase the plans individually — $7.99 to rent one movie out at a time and $7.99 for online streaming. 

Prior to the changes, subscribers would pay $9.99 to rent one DVD at a time and stream unlimited movies from the web. 

The combo bargain package, though, is no more; subscribers will have to fork up $15.98 for both options.

According to the movie website's blog, the unprecedented changes would bring the "lowest prices ever for unlimited DVDs" and that the previous plan "neither makes great financial sense nor satisfies people who just want DVDs." 

The changes are slated to take place after Sept. 1. For new users, the changes are effective immediately. 

What do you think about the change? Does the decision leave you livid? Are the changes more confusing? Looking for an alternative?

Here's a list of video rental options in case you're ready to cancel your subscription:

• Blockbuster offers a video rental mail service. $11.99/month for one DVD, $16.99/month for two and $19.99/month for three, all with five in-store exchanges. Stores are also offering in-store rentals for as low as $0.99. 
• Look for your nearest Redbox. Watch a movie for as low $1 a night and return the movie the next day. Redbox machines are located at grocery stores, mass merchant retailers, drugstores, restaurants and convenience stores nationwide.
• Hulu Plus: For $8 a month, subscribers can watch TV shows, documentaries and movies online.