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Netflix Shares Jump on Report It Hiked U.S. Monthly Subscription Fee -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — After a 3% increase in shares of Netflix Inc (NASDAQ) the stock price rose to $534.93. report by ReutersAccording to the streaming service, the monthly fee for its US subscription has been increased.

According to Reuters the company raised the monthly fee $1-$2 depending on which plan is used to fund new programming. Standard plans will now cost $15.49 per calendar month instead of $13.99, according to reports.

Netflix shares have declined 17.9% over three months and this news will be a welcomed boost.

Report said that Canada’s monthly prices will go up to C$16.49, from C$14.99.

Reuters cited a Netflix spokesperson as saying: “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. So members can select the plan that best suits them, we have a variety of plans.

John Hodulik from UBS, an analyst for Netflix, reduced Netflix’s price target by $690 to $720 before Friday’s opening bell. This is because he thinks fourth quarter net subscriptions will come in lower than expected.

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