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Netflix stock hits all-time high on price hike

Miley Cyrus SGMiley Cyrus and Adam Sandler performed on Jimmy Fallon's show
Tobias Pedroso | 07 Octubre, 2017, 17:11

Netflix has treaded lightly with price increases since 2011, when it suddenly hiked prices 60% for streaming and DVD-by-mail subscribers.

Netflix raised the price of its standard two-stream HD service from $7.99 to $9.99 back in late 2015 and began rolling out the new rate to all subscribers in May 2016.

The cost of its 'basic' plan will remain the same at £5.99/mth, but users will have to pay more for Netflix's 'standard' or 'premium' memberships. This increase will only happen in the US market, and there's no news yet if they will also apply this to other markets around the globe. The spokesperson added that Netflix would begin to notify members of the change on October 19.

The price changes applied immediately to new customers and will roll out in the weeks ahead to current subscribers.

The news notably arrives just before its popular series "Stranger Things" returns for a second season on Oct. 27.

The Standard Plan, which is the most common, will increase from $9.99 to $10.99 per month. It makes sense, however, as Netflix is continuing to produce original content. Ted Sarandos of Netflix claims that by next year they intend to spend at least $7 billion on original programming.

Sorry Netflix addicts. Your favorite streaming service is about to get a little more expensive.

NETFLIX prices are about to increase - and it won't leave you feeling chill.

A top-level plan that includes super-rich 4k video and watching from four screens at a time got a two-dollar price hike to $13.99 monthly.

Netflix has been at the forefront of streaming technology, forcing mainstream television companies and film distributors to reconsider their options.