Abu Dhabi, UAEMonday 19 August 2019

Netflix raises prices for US subscribers

The price hikes will be applied to all existing members over the next few months and to all new members immediately, Netflix said in a statement.

Netflix has announced a new increase in pricing for its US subscribers. AP Photo file 
Netflix has announced a new increase in pricing for its US subscribers. AP Photo file 

Netflix Inc said on Tuesday it had raised prices for its US subscribers by 13 per cent to 18 per cent, as the video streaming service spends heavily on original content and expands internationally.

Netflix raised the price on the standard plan, its most popular, to $12.99 per month (Dh47) from $10.99 (Dh40).

Its top-tier plan, which allows streaming on four screens in high definition, will be raised to $15.99 (Dh59) from $13.99 (Dh51) per month, while fee for its basic plan will rise to $8.99 from $7.99.

The price hikes will be applied to all existing members over the next few months and to all new members immediately, Netflix said in a statement.

This is the first time since October 2017 that Netflix has raised prices for its US subscribers.

Shares of Netflix, which is scheduled to report its fourth quarter earnings on Thursday, rose 5.5 per cent to $351.21 in premarket trading.

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Updated: January 15, 2019 07:55 PM

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