Netflix on Thursday upraised the prices of its standard and premium plans to $13.99 and $17.99 per month, respectively. Prior to Thursday, those plans were expensed at $12.99 and $15.99, respectively.
Current Netflix customers will see the updated prices on their bill over the next two months, Netflix demand thated CNBC. Customers will get a warning 30 days prior to the change.
The entry-level basic plan remains at $8.99 per month, the in any case price that was introduced last year. It’s the first increase since Netflix boosted the cost of its service in January 2019. Last to then, the basic, standard and premium plans were available for $8, $11 and $14, respectively.
On the company’s latest earnings telephone, chief operating officer Greg Peters hinted that a price increase might be coming. He said if Netflix resumes to do a great job investing in original content to deliver more value for users, then Netflix feels like “there is that opening to occasionally go back and then ask for members, where we’ve delivered that extra value in those countries, to pay a little bit more.”
Netflix’s pennant plan offers up to 1080p quality and allows people to watch on two screens at the same time. Its premium plan numbers support for sharper 4K resolutions and HDR and up to 4 screens at the same time. The basic plan supports 480p, about the quality of a DVD.
Appropriates of Netflix were up more than 4% on the price change before settling later in the evening. Disney rations were also up more than 3% in late trading, building on gains earlier in the day.
Correction: Netflix’s fundamental price is $8.99 per month.
Subscribe to CNBC on YouTube.