NetflixThe company raised the monthly price for streaming services in the U.S. and sent the stock up more than 2% on Friday.

The basic plan cost $1-9.99 per month, while the standard plan was $13.99-15.49. Premium plans were $17.99-19.99 and $19.99-19.99 respectively. according to Netflix’s website. Canadian prices also increased.

The change was confirmed by a Netflix spokesperson. In a statement, the spokesperson explained that Netflix is updating its prices to continue offering a variety of high-quality entertainment options.

Netflix prices have been rising in recent years. This is part the long-term strategy of Netflix. In the past, Netflix raised prices to U.S. subscribers. 2019 2020.

Wall Street has been counting on NetflixAs customer growth slows, Netflix will increase its prices. Netflix price increases reflect the confidence of its customers that their plans will be carried out and they won’t cancel or change because of increases in prices.

Netflix stated Friday that they will send customers an email regarding price rises 30 days prior to the actual increase.

Netflix faces more competition than ever before, particularly from streaming services like Disney+, HBO Max and Amazon Prime Video. Netflix claimed last fall that it has more than 213 million global subscribers, which is much greater than any of its competitors. Netflix said that it expects more subscribers in the future. to spend $17 billionOn content for 2021

Netflix to report its quarterly earnings next week

CORRECTION – Netflix’s price changes will have an impact on customers in Canada, the U.S., and other countries. An earlier version of this article’s headline misspelled the region that was affected.