- Netflix (NFLX) is raising the price of its basic U.S. streaming service for new subs by $1/month to $8.99/month. However, an e-mail sent out to many existing customers tells them their prices won't change for two years.
- Netflix, only 3 years removed from the Qwikster debacle, stated last month it plans to hike prices for new U.S. and foreign subs by $1-$2/month (depending on the country) in order to finance more content spend. But it added existing subs will maintain their current pricing "for a generous time."
- With Netflix possibly on its way to having 70M+ global streaming subs in two years - it currently has 46.5M - a $1/month hike could yield over $800M/year in extra revenue by the time it reaches Netflix's entire base.
- NFLX -0.3% premarket.
Netflix raising prices by $1/month; existing subs unaffected for 2 years
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at MarketWatch.com (Tue, 1:59PM)
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