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Netflix will offer $11.99 family plan with up to four simultaneous streams

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Netflix iPhone 5
Netflix iPhone 5

Netflix currently permits subscribers to stream two movies or TV shows simultaneously from different devices, but according to the company's top executives, that limit is about to grow. "A few members with large families run into our 2-simultaneous-stream limit," reads Netflix's quarterly letter to shareholders, written by CEO Reed Hastings and CFO David Wells. "To best serve these members, we’re shortly adding a 4-stream plan, at $11.99 in the U.S."

Surprisingly, the streaming service expects a mere one percent of customers will take advantage of the upcoming, more generous family plan. It would seem most of Netflix's user base is content with current subscription rates, but for those of you letting friends and family "borrow" your account credentials, things just got a bit more convenient. Unfortunately you'll still have to deal with the recommendations that stem from their viewing habits.