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.

FILE- In this July 17, 2017, file photo the Netflix logo is displayed on an iPhone in Philadelphia. Netflix lifted the usually tightly sealed lid on its viewership numbers in a recent tweet that disclosed 45 million subscriber accounts had watched the thriller, “Bird Box,” during its first seven days on the service. That made the film the biggest first-week success of any movie made so far for Netflix’s 12-year-old streaming service. (AP Photo/Matt Rourke, 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.

____________________
Read more:

12 films to look forward to in 2019

2018 in film: Netflix triumphs over traditional cinema, and our top picks of the year

____________________