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Netflix hikes US monthly subscription price by 10%

This led to shares of Netflix hitting a new all-time high, climbing more than 4%

IANS  |  Los Angeles 

The Netflix logo is shown in this illustration photograph in Encinitas, California
The Netflix logo is shown in this illustration photograph in Encinitas, California

Online streaming platform has raised the monthly price of its most popular streaming plan in the US.

The two-stream HD tier is now available for $10.99 per month for new subscribers while existing customers will be moved to the new rate over the next few months. This is $1 per month more from the previous $9.99 monthly fee.

The company also increased the monthly fee for its four-stream family plan, from $11.99 to $13.99 per month. That "premium" tier also includes select content in Ultra HD 4K format, reports variety.com.

This led to shares of hitting a new all-time high, climbing more than 4 per cent and peaking at $192.80 per share in Thursday morning trading.

According to variety.com, is spending around $6 billion on programming this year, and it is projected to rise to $7 billion in 2017.

had last raised prices in October 2015, when the two-stream plan increased from $7.99 to $9.99. As of the end of June, the company had about 52 million US streaming members.

First Published: Fri, October 06 2017. 14:46 IST
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