Netflix has raised its monthly subscription price by $1 to $2 per month in the United States depending on the plan, the company said on Friday, to help pay for new programming to compete in the crowded streaming TV market.
The standard plan, which allows for two simultaneous streams, now costs $15.49 per month, up from $13.99, in the United States.
Prices also rose in Canada, where the standard plan climbed to C$16.49 from C$14.99.
Shares of Netflix gained nearly 3% to $533.84 on Nasdaq after Reuters broke the news of the price rises. They closed 1.3% higher at $525.69.
The increases, the first in those markets since October 2020, took effect immediately for new customers. Existing members will see the new prices in the coming weeks when they receive their monthly bills.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson said.
