Netflix Just Got More Expensive
Netflix Inc. is raising the price of its most popular U.S. service plan by 10 percent to $11 to help pay for the streaming giant’s ambitious TV and movie budget.
Netflix shares surged as much as 4.5 percent to an intraday record, a sign that investors are confident the company can keep expanding its subscriber base even with a higher price.
Besides the higher rate for the most widely used package, Netflix boosted its premium plan 17 percent to $14. Both offer high-definition viewing and let families watch on multiple screens. The basic $8 plan will stay the same. The company will begin notifying current users on Oct. 19 and roll out the price hike over several months.
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