Netflix is raising its monthly subscription rates in May for some subscribers but even with the price hike, you won't cancel and here's why. 

Netflix raised it's prices for new subscribers from $7.99 to $8.99 back in 2014 then hiked it again to $9.99 back in 2015. Anyone who has had Netflix for more than two years has been grandfathered into the $7.99 price. That ends in May when all subscribers will start paying $9.99 for Netflix.

Will this price hike make you cancel? You shouldn't and here are the reasons why.

House of Cards

Golden Globes 2015 Best TV Drama House of Cards
Netflix
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This show alone is worth the $9.99 a month and you can only get it on Netflix, unless you really want to wait until it's released on DVD and Blu-Ray but if you like it enough to buy each season on home video, you get more for you money with Netflix.

Fuller House

Michael Yarish, Netflix
Michael Yarish, Netflix
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The critics ripped it apart, but admit it. You loved seeing the Tanner family all over again. With a second season in the works, do you really want to give up this goodness?

It's Cheaper Than Cable

Hand with tv remote control
Think Stock
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Sure, you still may pay the cable company for your internet service to watch Netflix, but at $9.99 a month to watch only what you want to watch rather than the 80+ channels and 20 shopping channels you never lay eyes on, it's a much better deal.

Binge Watching

Television production concept. TV movie panels
ThinkStock
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You keep hearing about this amazing show that you haven't seen. Breaking Bad, Sons of Anarchy, The Walking Dead. There are hundreds of great TV shows to discover on Netflix that you may have never known about. And what's better than spending a rainy weekend on the couch binge watching with a giant bowl of popcorn?

And lastly, it's a $2 increase. $2 more a month or about one large Dunkin' coffee. It won't break the bank, plus it helps to pay for those great original shows.

After all these reasons, will the Netflix price increase cause you to cancel? Let us know what you think about the price hike in the comments below or on Facebook and Twitter.

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