Additionally, the company is also increasing its Basic plan, which offers a single non-HD stream, from $7.99 to $8.99 per month. The premium three-screen 4K/HDR plan will be $16, up from $14.
Netflix today increased prices on all of its streaming plans.
Netflix just raised its prices, and the stock market is reacting quite positively to the news.
The rate increases will take immediate effect for new subscribers, though the company's 58 million existing U.S. customers will be transitioned to the new subscription prices over the next three months.
This change will also affect roughly 40 Latin American countries, with the exceptions of Mexico and Brazil.
Netflix has increased the price for all its subscription plans between 13 to 18 percent, with the most popular plan now costing $13 a month.
Shares in the company jumped more than 5% on the news.
Netflix had almost 79 million subscribers outside the U.S.as of September. There's no word on United Kingdom or European price changes as yet. Customers in around 40 Latin America countries where Netflix bills in USA dollars will also be hit with higher prices.
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Given the amount of quality new content appearing every other month on Netflix, this new price increase will have very little effect in Netflix's customer growth. The company recently paid around $100 million to keep Friends on its platform in 2019 and reportedly budgeted a whopping $13 billion for original content previous year.
In a note to investors, Goldman Sachs predicted that the results "will only be the beginning of the pay-off from Netflix's accelerating spend and increasingly robust originals slate", adding that "consensus continues to significantly underestimate the financial impacts of these dynamics".
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