Subscribers are not happy with Netflix' new price hike announced Tuesday, which will raise the DVD and streaming combo subsciption from $10 to $16 per month.

Netflix is also offering DVD-only and streaming-only subscriptions each for $8 dollars a month.

These price changes are effective immediately for new members, but for existing members, the change begins on or after September 1, 2011.

At the time this article was written, Netflix had a wide range of some 5000 comments on its blog. Most of the comments posted are negative and complain of the new changes, with some urging Netflix to strongly reconsider.

A good number are also threatening to cancel their subscription with Netflix (if they haven't done so already), and join other services such as Amazon Prime, HBO GO and Redbox.

Could this be business suicide, as one commentor put it?  

MUST READ Mark Zuckerberg Shuts Google+ Account, No Longer Most Popular User