- Netflix has increased the price of its streaming plans by $1, $1.50, and $2.
- The company said it is raising revenue to pay for more original content.
- Shares of Netflix jumped 3% following the news, and the company reports earnings on Thursday.
It just got a little more expensive to Netflix and chill.
The on-demand video giant has raised the price of its three streaming plans by $1, $1.50, and $2 for subscribers in the US and Canada.
Now, a Basic plan costs $9.99, the Standard plan costs $15.49, and the Premium plan (which includes 4K) costs $19.99. All plans still all include unlimited TV shows, movies, and mobile games.
DVD rental plans are still available separately starting at $9.99 per month.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson told Reuters.
“We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget,” the spokesperson added.
Shares of Netflix jumped 3% on the news softening an otherwise rough week for the stock.
The company will report its latest subscriber numbers in its next earnings release on Thursday.
Thomson Reuters analysts estimate Netflix added 8.5 million new sign-ups in the fourth quarter, bringing its global subscriber base to 222 million.