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Netflix raised the monthly prices of its service plans of transmission in United States, which made the shares rise up to more than 3% in the Stock Market on Friday.
Netflix shares finally rose 1.19% to close the price of the last share traded in $525.69 dollars on Friday.
The monthly cost of the basic plan increased by $1 to $9.99, the standard plan increased from $ .100 to $19.49 and the premium plan increased from $17.99 to $19.100, according to the Netflix website . Canadian prices also increased.
A Netflix spokesperson confirmed the change. “We are updating our prices in order to continue offering a wide variety of quality entertainment options,” the spokesperson said in a statement.
Netflix has been raising prices in previous years and is part of the company’s long-term strategy. Netflix previously increased prices for US customers in 2019 and 2020.
Netflix’s price increases also reflect the company’s confidence that your plans are embedded in the lives of your customers and will not be canceled or abandoned due to price increases.
Netflix said in the statement that customers will receive an email about price increases 30 days before they see the increase. The new prices are now in effect from Friday for new customers.
Netflix is facing more competition than ever, especially of new streamers such as Disney+, HBO Max, Amazon Prime Video and Apple TV+.
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