Netflix is rising costs for each commonplace and premium plans
Netflix on Thursday raised prices for its Standard and Premium plans to $ 13.99 and $ 17.99 per month, respectively. As of Thursday, these plans were priced at $ 12.99 and $ 15.99, respectively.
Current Netflix customers will see updated prices on their bill for the next two months, Netflix told CNBC. Customers will receive a warning 30 days before the change.
The entry-level basic plan remains at $ 8.99 per month, the same price that was introduced last year. This is the first increase since Netflix increased the cost of its service in January 2019. Previously, the Basic, Standard, and Premium plans were available for $ 8, $ 11, and $ 14, respectively.
Greg Peters, the company's chief operating officer, hinted at a price hike on the company's latest earnings statement. He said that if Netflix continues to do a great job investing in original content to create more value for users, then Netflix feels that "there is an opportunity to come back occasionally and then ask members where we got it." have provided additional value in these. " Countries to pay a little more. "
Netflix's standard plan offers quality up to 1080p and allows simultaneous viewing on two screens. The Premium plan includes support for sharper 4K resolutions and HDR, as well as up to 4 screens at a time. The basic plan supports 480p, about the quality of a DVD.
Netflix shares rose more than 4% from the change in price before leveling off later that evening. Disney shares also rose more than 3% in late trading, building on previous gains.
Correction: The base price of Netflix is $ 8.99 per month.
Subscribe to CNBC on YouTube.