Netflix is raising the price for its most popular U.S. video streaming plan by 10%—a move that could boost its profits but slow the subscriber growth that drives its stock price. The change announced this morning affects most of Netflix’s 53 million U.S. subscribers.
Netflix will now charge $11 per month, instead of $10, for a plan that includes HD and allows up people to simultaneously watch programs on two different internet-connected devices. The monthly price for plan that includes ultra-high definition, or 4K, video is going from $12 to $14. A plan that limits subscribers to one screen at a time without high-definition will remain at $8 a month.
Netflix will start emailing notifications about the new prices to affected subscribers Oct. 19, giving them 30 days to accept the higher rates, switch to a cheaper plan or cancel the service.
