Netflix Informing Subs About 13%-18% Price Hikes

Just weeks ahead of its first-quarter fiscal results, Netflix has begun informing subscribers by email of previously-announced (in January) price hikes ranging from 13% to 18%.

The increase adds $2 per month to the standard ($13) and premium ($16) plans of existing subs, while also increasing the price of the basic plan $1 to $9 monthly.

New subs since January already pay the new plan prices.

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Netflix said it would use the funds for continued original content spending, which increasingly includes feature-length movies.

In January, the New York Times reported Netflix would spend upwards of $18 billion on original content compared to $12 billion last year.

News of the price hike emails helped Netflix’s stock close up 76 cents per share to $367.72.

 

 

 

 

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