Netflix Stock Hits All-Time High After Company Hikes US Subscription Fees

Stranger Things

Netflix has quietly raised the price of its premium subscription services by as much as 11.2 per cent. Netflix will notify it's subscribers about the increase starting on October 19th, giving folks at least 30 days notice. But the most popular, "standard plan", which allows HD and two simultaneous streams, will go up from $9.99 to $10.99 per month. Their premium plan, which now is priced at $12 for 4K and streaming on four screens simultaneously, will cost $14, a $2 increase.

The cheaper plan that offers standard-def streaming on a single device will remain at $7.99 a month. And they are yet to impact Netflix's stock price, which jumped by $8.20, or 4.5 percent, to $192.64 in mid-morning trading on the NASDAQ Exchange. Netflix, pictured March 1, 2017, increased its prices to make way for exclusive content and new features.

The Standard plan is now $9.99 a month and come November, that amount will jump to $11.99 a month.

Netflix NFLX, +3.64% shares were up more than 3% after the hike on Thursday. During the second quarter of 2016, Netflix added only 160,000 new domestic subscribers, well below its projected growth of about 500,000.

A top-level plan that includes super-rich 4k video and watching from four screens at a time got a two-dollar price hike to $13.99 monthly.

Netflix's "content prowess" gave it the pricing power to raise prices, according BTIG Research's Rich Greenfield, sooner than the analyst expected. But increasingly the landscape of streaming TV is shifting; as Netflix goes more towards originals, Hulu is doubling down on its library. The firm plans to spend a staggering $7 billion on new shows in 2018 alone.

It's going to cost a little more each month to "Netflix & Chill".

The next season of Stranger Things better be fucking awesome.

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