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Netflix raises prices, stock leaps 5%

Netflix on Thursday raised the prices of its standard and premium plans to $13.99 and $17.99 per month, respectively.

10/29/2020 10:45:00 PM

Shares of Netflix ($NFLX) leap 5% as the company announces it is raising the prices of its standard and premium plans.

Netflix on Thursday raised the prices of its standard and premium plans to $13.99 and $17.99 per month, respectively.

on Thursday raised the prices of its standard and premium plans to $13.99 and $17.99 per month, respectively. Prior to Thursday, those plans were priced at $12.99 and $15.00, respectively.Current Netflix customers will see the updated prices on their bill over the next two months, Netflix told CNBC. Customers will get a warning 30 days prior to the change.

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The entry-level basic plan remains at $7.99 per month, the same price that. It's the first increase since Netflix boosted the cost of its service in January 2019. Prior to then, the basic, standard and premium plans were available for $8, $11 and $14, respectively.

On the company'slatest earningscall, chief operating officer Greg Peters hinted that a price increase might be coming. He said if Netflix continues to do a great job investing in original content to deliver more value for users, then Netflix feels like "there is that opportunity to occasionally go back and then ask for members, where we've delivered that extra value in those countries, to pay a little bit more."

Netflix's standard plan offers up to 1080p quality and allows people to watch on two screens at the same time. Its premium plan includes support for sharper 4K resolutions and HDR and up to 4 screens at the same time. The basic plan supports 480p, about the quality of a DVD.

Read more: CNBC »

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Better be making it up with better fkn shows n movies Coronavirus 'captive audience' alert I would have canceled 👎 I have Netflix way overrated !! Adios... $NFLX WholeMarsBlog Ugh again 🤦‍♂️ It’s like $15 rn for 4K. I get if they make some deals to get good ass content but man when it’s drier than a desert finding unwatched content or good stuff. Hopefully they get some new stuff on there.

netflix Real crappy to raise prices during a pandemic. Wall Street's happy and customers are screwed. It may not seem like much to some, but a buck is more squeezing of struggling Americans. Seems like a bad time to raise prices WholeMarsBlog Great strategic move in the face of unprecedented cancelations. 😆

Cancelling...👎 WholeMarsBlog It’d be okay if they at least produced better content instead of so many one-season failures — maybe data science is not the answer to what people want to watch

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