Netflix Ups Subscription Rates

Second rate hike in two years represents the largest increase in streaming giants' history
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The cost of a subscription to Netflix is going up again, the company announced today. This marks the second increase in the past two years and the fourth since Netflix launched its streaming service 12 years ago.

Netflix’s most popular plan, which includes HD streaming to two devices simultaneously, will rise from $11-13 and the cost of the most basic plan will go from $8 to $9. The premium option, which includes 4K streaming, will increase from $14 to $16. Price hikes will go into effect immediately for new subscribers and will be rolled out over the next three months for current subscribers. The increase--Netflix’s largest ever—represents a 13-18 percent rate hike.

Netflix has approximately 58 million subscribers in the U.S. As other media companies pull their content from the streaming service to start their own OTT services, the company is ramping up its production of original content, spending $3 billion in 2018, which it is expected to repeat in 2019.