NEW YORK – Netflix shares jumped yesterday after the streaming service raised prices in the US for two of its subscription offerings.
The new prices, listed on the company’s website, increase the monthly price for its “standard” service by US$1 (RM4.16) to US$13.99, and the “premium” service by US$2 to US$17.99.
The products allow subscribers to view or download shows on more than one screen at the same time, and provide high-definition broadcast.
These features are not available in the “basic” streaming service, for which the price remains unchanged at US$8.99 a month.
Netflix did not immediately respond to a request for comment.
The streaming service, which has been seen as a big winner during the coronavirus pandemic with more consumers at home, hinted that higher prices could be coming during an earnings conference call earlier this month.
Company officials at the time said Netflix had resumed production for hit shows including Stranger Things and The Witcher, as well as an action film starring Gal Gadot, Dwayne Johnson and Ryan Reynolds.
On Tuesday, the firm announced a deal with video game company Ubisoft to create shows based on its hit Assassin’s Creed franchise.
Shares in Netflix ended the day at US$504.21, up 3.7%. – AFP, October 30, 2020
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