Tech

Netflix raised the prices on its streaming plans to help pay for its new movies and shows

a person downloading netflix on their phone
Netflix. SOPA Images/Getty Images.
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It just got a little more expensive to Netflix and chill.

The on-demand video giant has raised the price of its three streaming plans by $1, $1.50, and $2 for subscribers in the US and Canada.

Now, a Basic plan costs $9.99, the Standard plan costs $15.49, and the Premium plan (which includes 4K) costs $19.99. All plans still all include unlimited TV shows, movies, and mobile games.

DVD rental plans are still available separately starting at $9.99 per month.

"We understand people have more entertainment choices than ever and we're committed to delivering an even better experience for our members," a Netflix spokesperson told Reuters.

"We're updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget," the spokesperson added.

Shares of Netflix jumped 3% on the news softening an otherwise rough week for the stock.

The company will report its latest subscriber numbers in its next earnings release on Thursday.

Thomson Reuters analysts estimate Netflix added 8.5 million new sign-ups in the fourth quarter, bringing its global subscriber base to 222 million.

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Dominick Reuter
Dominick Reuter
Dominick Reuter is a senior retail reporter for Business Insider, primarily covering Walmart, Target, and Costco. His stories tend to focus on issues and trends that affect employees and customers.Prior to joining BI in 2019, Dominick worked for more than a decade as an independent photojournalist covering a wide range of stories for global wire services and newspapers, including Reuters, the Wall Street Journal, and Agence France-Presse.Dominick studied photojournalism at Boston University and later earned a Masters in business and economics journalism from Columbia University.If you're an employee or customer with a story to share, please contact me via email or text/call/Signal at 646-768-4750.