Over the next few months, existing members will see the $8 plan go to $9 per month, the standard $11 plan bump up to $13, and the $14 subscription increased to $16. New members will be charged the updated prices immediately.
The new subscription prices will seemingly please investors, however, as Netflix stock is currently up 6 percent. CNN points out that as of last quarter, Netflix had over 58 million subscribers in the US and 137 million globally. The streaming provider expects to surpasses 147 million global subscribers by the time of its next earnings report.
Netflix’s price spike comes as more and more companies are getting in on the streaming action, including Disney+ that is scheduled to launch this year.
Will you be looking for other streaming options now that Netflix is raising its prices? Let us know in the comment section.
In related news, Netflix is facing a $25 million lawsuit over ‘Black Mirror: Bandersnatch.’