Netflix Raising Prices For Most Popular Plan

SAN FRANCISCO (AP/CBS) – Netflix is raising the price for its most popular U.S. video streaming plan by 10 percent – a move that could boost its profits but slow the subscriber growth that drives its stock price.

The change announced Thursday affects most of Netflix’s 53 million U.S. subscribers, although some won’t be hit so long as they don’t mind going without high-definition video.

Netflix will now charge $11 per month instead of $10 for its most-watched plan that includes HD video.

The price for another plan that includes ultra-high definition, or 4K, video, is going up by 17 percent, to $14 a month from $12.

The increase would be the first in two years for Netflix.

The prices go into effect for new members signing up for plans beginning on Oct. 5. Current subscribers will be notified about increases on Oct. 19, and the company said “the price change will roll out to members over the course of the next several months.”

(TM and © Copyright 2017 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2017 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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