Netflix Stock Breaks Out As Internet TV Network Reveals Price Hikes

Netflix Stock Breaks Out As Internet TV Network Reveals Price Hikes

Netflix Stock Breaks Out As Internet TV Network Reveals Price Hikes

A small price shift probably isn't enough to deter a majority of Netflix's 100 million subscribers, but as the streaming industry splinters into small niche services, customers have more options then ever.

Many Netflix subscribers in the USA will soon have to pay a little more each month for streaming. For subscribers who have the plan that allows for two screens to watch in HD at the same time, the price is going up from $9.99 to $10.99 each month. Their premium plan, which now is priced at $12 for 4K and streaming on four screens simultaneously, will cost $14, a $2 increase.

The cost of the streaming video giant's basic plan, at $8 a month, will remain unchanged. Users will receive 30 days of notice before the price hike begins as the rollout proceeds over the course of several months. Nearly exactly two years ago, Netflix raised its prices for new members and began to "un-grandfather" existing customers into the new price levels.

The Standard plan is now $9.99 a month and come November, that amount will jump to $11.99 a month. The Standard plan lets you stream TV shows and movies from Netflix on two devices in HD-the Premium plan lets you stream on four.

In a statement to the Daily News, Netflix's team stated that they occasionally up the cost of subscriptions as they add exclusive content.

For now, analysts don't see terribly anxious, nor do investors, with Netflix's share price gaining 4.3% to $192.34 in recent market action.

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With increased prices comes new features, according to Netflix.

Mashable reports that the increases will go into effect in November.

Netflix passed the 50 million subscriber mark earlier this year, passing the number of subscribers to America's largest cable companies.

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As of the end of June, Netflix had about 52 million USA streaming subscribers, and 104 million total worldwide.

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