- Netflix announced its largest price increase for US subscribers on Tuesday.
- The streaming giant’s most popular plan will see the biggest increase, to $12.99 from $10.99.
- Its basic plan saw a $1 per month increase to $8.99 per month. It was the first increase for basic the plan since 2010.
- Watch Netflix trade live.
Netflix shares jumped more than 5% to $352.19 Tuesday after the company rolled out its biggest price increase for US subscribers.
As of January 15, 2019, the price of Netflix’s most-popular plan, 2s, in the US will jump to $12.99 per month from $10.99. That plan offers high-definition streaming on up to two different internet-connected devices simultaneously. Meanwhile, Netflix’s basic 1S plan will see a $1 per month increase to $8.99, its first hike since 2010.
For comparison, HBO’s streaming service charges $14.99 per month and HULU charges $11.99 without ads.
“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,” a Netflix spokesperson said in a statement.
Netflix was up 58% in the past year.