Netflix Inc. raised the price for new U.S. streaming customers on Jan. 15, news that preceded a jump of more than 5% in the company's stock price in morning trading.
Netflix posted new streaming plan prices on its website, revealing that plans will start at $8.99 per month for its Basic plan, which includes one stream at a time and no HD viewing, up from $7.99 previously. The company's Standard plan, which includes two streams and HD quality video, now costs $12.99 per month, up from $10.99. The 4K Premium plan, which can stream on four screens at a time, will cost $15.99 per month, up from $13.99.
A Netflix representative confirmed the price change in an emailed statement, saying, "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."
According to a report from CNBC, existing subscribers will see their monthly bills rise to reflect the new prices over the next three months.
Netflix last raised prices for U.S. streaming customers in October 2017.
Netflix's stock was trading up 5.7% to $351.85 as of 10:35 a.m. ET on Jan. 15.