Netflix raising subscription prices for most popular plans

Netflix content chief Ted Sarandos

Subscribers to two out of three main Netflix plans in the USA getting its monthly fee jacked up as the company lays out billions for content.

The cost of the streaming video giant's basic plan, at $8 a month, will remain unchanged.

Wall Street appeared to approve of the move, as Netflix shares were up almost 4% to $191 apiece in midday trading.

The company's $10/month high-definition plan now costs $11, according to changes reflected on Netflix's subscription page. It may be no coincidence that the news comes shortly after Netflix seemingly took a mild blow when Disney made a decision to pull its library of Netflix items for its own streaming service.

Mashable reports that the increases will go into effect in November.

While Netflix's pricing will now be higher, the company's streaming service is still cheaper than many of its competitors, including HBO Now, which offers access exclusively to that network's content for $15 a month.

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Most of the subscriber growth came from outside the USA, where Netflix has invested heavily in establishing itself as a global television service.

The second package to be a part of the Netflix price increase allows for simultaneous streaming on up to four devices.

The change announced Thursday affects most of Netflix's 53 million US subscribers.

Speaking to Gizmodo, a Netflix spokesperson cited more original and interactive content as reasons for the shift. Earlier this year, in fact, Netflix said that it plans to spend between $6 billion and $7 billion on content next year, alone. Netflix has also benefited from a low cost and widespread support across televisions, set-top boxes, video game consoles, and other hardware, making it cheap and easy for users to access its content.

NFLX stock was up 3% as of Thursday morning and is up 54% year-to-date.

Apparently banking on fans' appetite for another 1980s Hollywood nostalgia trip, Netflix has decided now is the time for a price bump.

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