Economy

Netflix raises subscription prices for most United States viewers

Netflix raises subscription prices for most United States viewers”

Shares of Netflix hit a new all-time high on news of the price hikes, climbing more than 4% and peaking at $192.80 per share in Thursday morning trading.

Netflix Stock jumped by almost 5 percent to $193.58 after the company announced increase in subscription rates.

The price for the basic plan, which limits viewing to one screen and standard definition, will stay put at $7.99. Streaming was originally an added bonus for DVD subscribers at no extra cost.

Commenting on stock performance, Rob Sanderson analyst at MKM Partners said, "Most investors believe that Netflix is priced well below its value to consumers and want to see the management continue to increase monetization". The premium plan, which is now priced at $12 for 4K and streaming on four screens simultaneously, will cost $14 (a $2 increase). The lowest-cost plan, at $7.99, which doesn't include HD and does not allow for simultaneous streaming, will not increase in price.

The company's mid-range plan, which allows streaming on two devices at the same time, was increased to $10.99 per month from $9.99.

Us too! But it's about to get a little bit more expensive to enjoy the streaming antics of those supernatural-adventure-seeking kiddos.

Most of the subscriber growth came from outside the USA, where Netflix has invested heavily in establishing itself as a global television service.

Netflix's latest price increases will roll out to US subscribers over the next couple of months, and be fully in place in December.

In a statement, Netflix said that the price increases are necessary to improve their offerings. This price hike also means Hulu's new commercial-free plan is just $1 more a month and will have most of the Fox shows that are being pulled this month.



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