Netflix Raising Price Of Some Plans

"From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster", a Netflix statement to Mashable said.

But Netflix subscribers have rebelled against price increases in the past, most notably in 2011 when the company stopped bundling its streaming service with its DVD-by-mail service, resulting in price increases of as much as 60 percent for customers who wanted both plans. The previously priced $9.99 plan will increase to $10.99 and the premium tier will increase from $11.99 to $13.99, according to Mashable.

Wall Street appeared to approve of the move, as Netflix shares were up almost 4% to $191 apiece in midday trading. Rather than a slow roll out like last time Netflix is opting to change the prices for all users within about two months of the new price announcement. Anyone signing up for the service now will reportedly see the new prices.

With the price increases, Greenfield expects Netflix's global subscriber growth to slow "modestly" in 2018 (with 20.2 million net new subs vs. 20.9 million projected for 2017) and then re-accelerate in 2019 to 21.1 million net adds.

Netflix's "content prowess" gave it the pricing power to raise prices, according BTIG Research's Rich Greenfield, sooner than the analyst expected.

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Netflix is squeezing a bit more out of its customers.

Speaking to Gizmodo, a Netflix spokesperson cited more original and interactive content as reasons for the shift. The company expects to spend almost $7 billion on content for its service next year, including movies, TV series and comedy specials. Netflix's subscriber base has steadily grown over the years and in June, after surpassing the 50 million subscriber mark in the U.S. Netflix has also benefited from a low cost and widespread support across televisions, set-top boxes, video game consoles, and other hardware, making it cheap and easy for users to access its content.

UBS maintains its "buy" rating on Netflix, with a 12-month price target of $225 per share.

All your favourite Netflix shows are about to come at a higher price.

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