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Jan 15, 2019

Netflix price hike for U.S. subscribers sends shares higher

The Netflix Inc. app

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Netflix Inc. (NFLX.O) is raising its U.S. prices for the first time since 2017, sending its shares higher as investors anticipate more revenue for the streaming giant.

The company’s shares rose as much as 6.2 per cent in early trading on reports of the new pricing, in which the most popular plan will rise to US$13 a month from US$11.

“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,” Netflix said in an emailed statement.

The price hike is the largest since Netflix launched its streaming service 12 years ago and is the first time an increase will hit all 58 million U.S. subscribers, the Associated Press reported.

The move came as Goldman Sachs analysts said they expect Netflix to issue strong fourth-quarter results and first-quarter guidance on Thursday.

--With assistance from Gerry Smith

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