SAN FRANCISCO (AP) — Netflix is raising its U.S. prices by 13 to 18 percent, its biggest increase since the company launched its video streaming service 12 years ago.
Its most popular plan will see the largest hike, to $13 per month from $11. That option offers high-definition streaming on up to two different internet-connected devices simultaneously. Even at the higher price, that plan is still a few dollars cheaper than HBO, whose streaming service charges $15 per month.
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The extra cash will help to pay for Netflix’s huge investment in original shows and films and finance the heavy debt it has assumed to ward off rivals such as Amazon, Disney and AT&T.
While subscribers might bemoan a bigger monthly bill, Wall Street cheered, sending Netflix’s shares up 6.5 percent Tuesday.
