The price hike takes affect Thursday for new members. But it raised the prices on its midrange and high-end tiers by $1 and $2, respectively. The streaming network's basic plan, which delivers standard definition video to one screen only, will remain available at $7.99 a month.
Netflix has rapidly become the center of most of our TV universes, streaming everything from utterly obscene coming-of-age cartoons to original stand-up comedy. Leave us a comment and let us know what you think about it.
With the Stranger Things 2 set to debut on October 27, Netflix confirmed to Business Insider this morning that it's raising prices of its standard subscription plan from $9.99 to $10.99.
Netflix now has almost 104 million subscribers. That's a two dollar increase from the current $11.99 monthly rate. The successful streaming giant has invested $7 billion in content for the next year, according to The Wrap, while companies like Hulu "only" have $2.5 billion invested in content for their streaming services. And they are yet to impact Netflix's stock price, which jumped by $8.20, or 4.5 percent, to $192.64 in mid-morning trading on the NASDAQ Exchange.
The fare hikes go into effect for new USA members today.
The hike comes just as Netflix fans prepare for the hotly anticipated second season of Stranger Things.