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Netflix shares rise as it lifts prices on US subscriptions

Victor Gill
Netflix shares rise as it lifts prices on US subscriptions

NEW YORK, United States (AFP) — Shares of Netflix jumped Thursday after the streaming service raised prices in the US for two of its subscription offerings. The new prices, listed on the company’s website, increase the monthly price for its “standard” service by US$1 to US$13.99, and raised the “premium” service US$2 to US$17.99.

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The products allow subscribers to view or download shows on more than one screen at the same time and provide high definition broadcast. 

These features are not available on the “basic” streaming service, for which the price remained unchanged at US$8.99 a month.

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Netflix did not immediately respond to a request for comment

The streaming service, which has been seen as a big winner during the coronavirus pandemic with more consumers at home, hinted that higher prices could be coming during an earnings conference call earlier this month

Company officials said at the time that Netflix had resumed production for hit shows including “Stranger Things” and “The Witcher,” as well as on an action film starring Gal Gadot, Dwayne Johnson, and Ryan Reynolds

On Tuesday, Netflix announced a deal with video game company Ubisoft to create shows based on its hit “Assassin’s Creed” franchise

Shares of Netflix ended the day at US$504.21, up 3.7 per cent

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