Dig deeper into your wallet: Netflix raises monthly price $1 to $9.99
NEW YORK — Netflix, the popular streaming TV service, is hiking the cost of its standard plan from $8.99 a month to $9.99.
The standard plan lets households watch programming on two devices at the same time.
The premium plan, meant for families who want to watch on up to four devices simultaneously, will continue to cost $12.99 a month. And the basic plan, with access on just one screen, will continue to cost $7.99.
The one-dollar raise affects new subscribers in the United States, Canada and Latin America right away. But it won’t affect existing subscribers for a year.
Netflix adjusted its pricing in Europe in a similar way over the summer.
“To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America,” the company said. “As a thank you to existing Netflix members — who aren’t already benefiting from a previous price guarantee — we will maintain their current price for a year.”
The news was first reported by Bloomberg.
Netflix stock, which was down earlier in the day, ticked up about 2% after the report.