Netflix Purge Coming New Year's Day; Movies, Sitcoms To Bite Dust

A Netflix purge is scheduled for the start of the New Year, with more than 80 movies and a handful of sitcoms scheduled for removal from the popular on-demand internet streaming media company.

Among the titles that have been selected for removal are "Braveheart," "Platoon," "Titanic," "Top Gun," and "In The Name Of The Father." TV shows such as "Dark Shadows," "The Kids In The Hall," and "Mr Bean" are similarly scheduled for removal come Jan. 1, according to a post on Reddit.com.

A spokesperson for Netflix told CNN that the company routinely adds and deletes titles from its streaming service due to licensing contracts.

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The spokesperson added that there will be a number of new movies and TV shows available in 2014, including "Jack Reacher," "The Talented Mr. Ripley," and seasons 5-8 of "Dexter."

This isn’t the first time Netflix, which has approximately 40 million streaming subscribers and an additional 7 million DVD customers in the U.S., has purged its streaming movie list.

In May, the media company removed a whopping 1,794 movies and TV shows from its catalogue, which is said to contain in the area of 60,000 titles in all.

The California-based subscription streaming company also plans to introduce a new service that would force customers to pay more for additional family members through plans that allow different family members to view different shows on multiple screens throughout the house simultaneously, Bloomberg News reported.

The new service would increase the subscription fee from $6.99 to upwards of $11.99 depending on the amount of screens Netflix will stream to.

The multi-screen service will begin in April, according to Netflix Chairman and CEO Reed Hastings, who is also making headlines for receiving a 50 percent pay increase in 2014.

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A regulatory filing shows that Hastings' annual salary will climb from $2 million to $3 million next year, and his annual stock option allowance also will rise by $1 million to $3 million. The $6 million in total pay compares to $4 million in 2013, when his pay doubled, the Associated Press reported.

Netflix Inc. shares hit an all-time high price of $389.16 in October, prompting some analysts to label the company as a bubble waiting to pop.