Netflix raises subscription prices

CHICAGO (NewsNation Now) — Netflix raised subscription prices for its standard and premium plans in the U.S. Thursday. The standard plan is now $13.99 from $12.99, and the premium plan to $17.99 from $15.

The streaming giant’s entry basic remains at $8.99 per month. The increase will take effect immediately for new customers, and current subscribers are to be notified 30 days ahead of their price increase based on their billing cycle.

Netflix last increased subscription fees in January 2019. Shares of Netflix also jumped 4.8% to $509.53 Thursday afternoon.

On Thursday, a Netflix spokesperson said the company was raising prices “so that we can continue to offer more variety of TV shows and films – in addition to our great fall line up.”