Netflix has upped its subscription price in the US, and Wall Street approves.
Teh streamer is raising its standard plan to $13.99 (€12) a month from $12.99 a month, and its premium plan to $17.99 a month from $15 a month. The price of its basic plan remains at $7.99 a month. News of the price rise sent Netflix shares up by about 5 per cent to $509 a share.
Last week, Netflix announced slower than expected subscriber growth, but Wall Street focussed on the company’s earnings and revenues increases. Analysts believe the company is poised to turn cash-flow positive.