Netflix is trying to squeeze a little bit more out of their US -based customers by increasing the prices of two of its most popular services.
Netflix is squeezing a bit more out of its customers. This means that customers now on the standard plan - which allows you to watch on two screens - will go from paying $9.99 to $10.99.
With budgets like that, price increases were inevitable.
Perhaps the biggest name in the streaming game is raising its prices.
The increases come as the company pours more money into developing original programming.
It's worth pointing out that at $10.99, Netflix is still less expensive than plans from many of its competitors (like Hulu, most importantly).
The entertainment giant has increased the price on two of the three subscription tiers offered to its 52 million US subscribers. The plan that limits subscribers to one screen at a time with regular definition viewing remains $7.99 a month. In the latest UBS analyst forecast, the newly-announced price increase is expected to bring an additional $350 million in revenue for Netflix in 2018. "Members will be notified with an email and also see a notification within the service".
The rate increase should help alleviate some of Netflix's reliance on debt to support its content spend.
Thursday morning, Netflix shares hit a new all-time high of $192.80 per share.
Although the price change will take effect in the United Kingdom and the U.S., it will also impact some European countries like Germany and France. Customers will reportedly be given 30 days notice prior to the cost rising.
She added that more than 1,000 hours of original content was being added to the site in 2017.
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