Netflix is raising the prices of its US subscription plans by 13-18 percent. The price hikes affect all new subscribers immediately, as you can see on the Netflix signup page, but current subscribers will begin to see the new prices reflected in their bills over the next three months.
Looks like the third season of Stranger Things is going to cost fans a bit more.
Netflix is raising prices in the United States as the streaming service invests heavily in new programs.
Netflix faces the risk of having a large wave of consumers canceling their membership over the higher costs, The New York Times noted. For now, Mexico and Brazil are excluded, and it is not clear if Netflix has plans to introduce higher prices in other parts of the world.
Prices for its popular standard plan, which allows streaming on two devices at the same time, will be increased to $12.99 per month from $10.99, the company said in a statement. Also the Basic Netflix plan is going up from $7.99 to $8.99 per month. In the past, Netflix has rolled out price increases to its newer members first and its most loyal subscribers last.
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If Netflix can continue to produce content that captures this many eyeballs, subscribers threatening to ditch the platform risk losing not only access to the shows available through the service but also the ability to participate in these shared cultural experiences.
The added subscription price will surely help the firm invest in more original content.
The company is expected to have a debt level of $8.33 billion in 2018, according to Daniel Morgan, senior portfolio manager at Synovus Trust Co, which owns 15,019 shares of Netflix.
Netflix's Bird Box is one of the service's latest big-budget originals. The company's stock soared in response to the price increase news.