Published: Tue, January 15, 2019
Life&Culture | By Sue Mclaughlin

Netflix are raising prices for their USA subscribers

Netflix are raising prices for their USA subscribers

The cheapest Netflix plan in the United States is now $9 (up from $8), while its HD Standard plan (the most popular) will cost $13, up from $11, according to CNBC.

This will impact the existing 58 million U.S. users and any future subscribers.

Previously, Netflix had continued to offer a basic, $8-a-month streaming plan while raising rates on more comprehensive plans with better video quality and options to watch simultaneously on different devices. Outside of the USA, about 40 Latin America countries where Netflix bills in US currency will also be impacted. The price rise will also affect customers in around 40 Latin American countries, where Netflix charge customers in US Dollars, but will not take place in countries like Mexico and Brazil.

Netflix will hope that original shows like Stranger Things will convince subscribers to stay.

This new pricing is applicable for all new customers and will come into effect for existing customers in the next three months.

"We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members", said Netflix in a statement.

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The Netflix logo is seen on their office in Hollywood, Los Angeles, California, U.S. July 16, 2018. Walt Disney is gearing up to launch a streaming channel this year.

The money will help pay for the company's massive investment in content. The last time Netflix increased its prices was in late 2017. It spends around $13 billion on it.

Wall Street analysts have believed Netflix has demonstrable leeway to safely raise fees without the risk of significant backlash.

Netflix's stock traded at $352.36 per share, up 5.8 percent at time of publication.

Netflix has invested more heavily in original content than any US television entity in a bid to dominate the marketplace amid increasing competition from rivals such as Amazon, Hulu, Apple and, soon, Disney.

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