Netflix hikes price to $13 a month

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Netflix
Netflix Credit: kasinv/iStock

Netflix Inc. is raising its U.S. prices for the first time since 2017, with its most popular plan increasing to $13 a month from $11.

"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," the company said in an emailed statement.

The price hike is the largest since Netflix launched its streaming service 12 years ago and is the first time an increase will hit all 58 million U.S. subscribers, the Associated Press reported.

The move came as Goldman Sachs analysts said they expect Netflix to issue strong fourth-quarter results and first-quarter guidance on Thursday.

--Bloomberg News

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