It was nice while it lasted…
Netflix is raising subscription prices by 13% to 18%, the steepest increases since the company began streaming video more than a decade ago. The least expensive Netflix plan, Basic, will now cost $9, up from $8. The company’s most popular option, HD Standard, will now cost $13, up from $11, while 4K Premium plan will cost $16, up from $14.
Investors reacted and sent stock shares up 6.5% for the day, closing at $354.64. The stock has generally went down from past price hikes. The new round of price hikes is the fourth for Netflix and its first since 2017.
(Deadline)
