Netflix Raises US Subscription Prices for New and Existing Customers


Netflix is aware that subscribers may not like the price hike, but the company assures customers the reason for the price increase is to provide more exclusive content. However, the price for that package is now increasing to £7.99 per month. The company said that by the end of the year it will have spent around $6 billion for original content in 2017.

LOS GATOS You're going to have to dig a little bit deeper into your wallet to pay for the privilege of watching "Stranger Things", "House of Cards" and everything else on Netflix. "Mitchelson added that "[Netflix] management would be unlikely to implement such a price increase if US subscriber trends were disappointing, bolstering our confidence further".

Netflix has raised the price on its standard and premium streaming service subscriptions.

The financial markets must be filled with binge-watchers because Netflix's latest announcement of hiking subscription prices yet again was met with bullish activity on the exchange, sending the company's stock price to an all-time high. The basic, non-HD UK subscription will remain at the current price of £5.99. The standard Netflix plan that offers HD viewing on up to two devices simultaneously will now cost $10.99 a month, $1 up from its previous cost of $9.99. The newest price hike is a 10 percent increase.

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In 2011, over 800,000 subscribers in the US deserted the streaming service after it dramatically increased its fees.

The higher pricing comes as the video streaming service spends heavily on original content and expanding outside the US.

"We would expect mgmt. would be unlikely to implement such a price increase if USA subscriber trends were disappointing, bolstering our confidence further".

The online media business ended the United States trading day around 5% higher Thursday, which brings the year-to-date gain of the company's stock price above the 50% mark. "Further, we expect less speculation this time as to what the price increase means for future content spending given 2018 has already been indicated at +$1b Y/Y", wrote Mitchelson in a research note.