A Netflix price increase 2019 will have customers paying more for the video streaming service.
The following is a breakdown of the Netflix (NASDAQ:NFLX) price increase for 2019.
- Basic Plan — This price increase will have customers paying $9 per month instead of the previous price of $8 per month.
- HD Plan — The Netflix price increase 2019 for this plan has it going up to $13 a month from the previous price of $11 a month.
- 4K Plan — The new price for this plan has customers paying $16 per month, rather than the previous price of $14 per month.
The Netflix price increase 2019 is in effect immediately for new customers. However, current subscribers won’t have to start paying these prices just yet. Instead, the company will start moving them to the new pricing model over the next three months.
The Netflix price increase 2019 marks the fourth time that the company has increased prices since its launch. It is also the largest price increase the company has ever announced at between 13% and 18%. However, price increases typically don’t hurt its subscriber count, reports CNBC.
Netflix has actually been seeing its subscriber counts increase as it adds more new original shows and movies to its services. It currently has 58 million subscribers in the U.S. and 137 million around the world. It is estimating that worldwide subscribers will reach 147 million for its next earnings report, which comes out on Thursday.
NFLX stock was up 6% as of noon Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.