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UPDATE 1-Netflix increases monthly subscription fees for two plans
October 5, 2017 / 2:51 PM / 2 months ago

UPDATE 1-Netflix increases monthly subscription fees for two plans

(Adds details on pricing, background and share price)

Oct 5 (Reuters) - Netflix Inc has raised the monthly subscription fees for two out of its three main U.S. plans by $1 and $2 respectively, according to details published on the company’s subscription page on Thursday.

The company's midrange plan, which allows streaming on two devices at the same time, was increased to $10.99 per month from $9.99, according to the details on the page. nflx.it/2kpEiJk

The top-tier plan, which allows streaming on four screens in high definition, was raised to $13.99 per month from $11.99. The basic plan fee remained at $7.99.

Shares of the company rose as much 3.8 percent to $191.40 in morning trading.

The price hikes will only be in the United States and will start in November, depending on users' billing cycles, technology website Mashable reported. on.mash.to/2xYfwDi

The higher pricing comes as the video streaming service spends heavily on getting original content and expanding outside the U.S.

Reporting by Supantha Mukherjee and Aishwarya Venugopal in Bengaluru; editing by Patrick Graham, Bernard Orr

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