Netflix pops after saying it's raising prices for US subscribers

Netflix‘Black Mirror: Bandersnatch’
  • Netflix announced its largest price increase for US subscribers on Tuesday.
  • The streaming giant’s most popular plan will see the biggest increase, to $US12.99 from $US10.99.
  • Its basic plan saw a $US1 per month increase to $US8.99 per month. It was the first increase for basic the plan since 2010.
  • Watch Netflix trade live.

Netflix shares jumped more than 5% to $US352.19 Tuesday after the company rolled out its biggest price increase for US subscribers.

As of January 15, 2019, the price of Netflix’s most-popular plan, 2s, in the US will jump to $US12.99 per month from $US10.99. That plan offers high-definition streaming on up to two different internet-connected devices simultaneously. Meanwhile, Netflix’s basic 1S plan will see a $US1 per month increase to $US8.99, its first hike since 2010.

For comparison, HBO’s streaming service charges $US14.99 per month and HULU charges $US11.99 without ads.

“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” a Netflix spokesperson said in a statement.

Netflix was up 58% in the past year.

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