With the Stranger Things 2 set to debut on October 27, Netflix confirmed to Business Insider this morning that it's raising prices of its standard subscription plan from $9.99 to $10.99. The regular plan that is $7.99 a month, that only allows one-screen streaming in standard definition, will see no price change.
Netflix will now charge $11 per month instead of $10 for a plan that includes HD and allows people to simultaneously watch programs on two different internet-connected devices.
Wall Street appeared to approve of the move, as Netflix shares were up almost 4% to $191 apiece in midday trading. The price change will roll out to members over the course of the next several months.
Subscribers to the single, non-HD plan will not see a price increase. But the price increases will help Netflix continue to expand its services and improve the quality of streams for future use by consumers, as well as fund ongoing and new Netflix-exclusive projects.
Report shows solar, wind on the march as China surges
This made them a leader in the renewable energy production, with the United States following after. China's solar dominance is only going to keep growing, according to the IEA report.
Microsoft Corporation Is Killing Groove Music, Asks Users To Move To Spotify
It will not, however, be migrating playlists, so you'll probably be wanting to think about how you're going to recreate those. Spotify is bigger than Groove Music and offers larger portfolio, users will have no problem in switching to this new service.
Russian, North Korea Diplomats To Meet In Moscow On September 29
She is viewed as a key figure in negotiations with the US and met with a former top American diplomat unofficially this May. Senior Russian and North Korean diplomats have met in Moscow to discuss the crisis on the Korean Peninsula, media report.
A price incresase for a popular service is hardly unheard of, and Netflix has gone through price increases in the past. The company is raising prices for customers with the "Standard" and "Premium" service packages, Mashable reported Thursday.
Netflix's stock is popping, along with the price of its subscriptions.
The higher pricing comes as the video streaming service spends heavily on original content and expanding outside the U.S.
Netflix passed the 50 million subscriber mark earlier this year, passing the number of subscribers to America's largest cable companies. Netflix has also benefited from a low cost and widespread support across televisions, set-top boxes, video game consoles, and other hardware, making it cheap and easy for users to access its content. Our detailed survey work over the years has indicated the content, not price, is the leading churn/churn-back factor amongst Netflix subs.