The leader in online TV is getting a little more aggressive with its pricing.
Netflix Inc. is raising the cost of its most-popular U.S. subscription by $1, to $14 a month. That includes full high-definition viewing. The price of its 4K-resolution service increased by $2, to $18. The entry-level tier stays priced at $9.
Netflix shares rose as much as 5.7% on the news and finished Thursday’s session up 3.7% to $504.21. The stock is up 56% this year.
The increases take effect immediately for new subscribers. Existing ones will see the changes over the next two months.
“We’re updating our prices so that we can continue to offer more variety of TV shows and films,” the company said in a statement. “As always, we offer a range of plans so that people can pick a price that works best for their budget.”