Netflix announces highest price surge for its US customers so far

Online Streaming platform Netflix has announced a surge in its prices for its US subscribers. This has been touted as the biggest price sure since the platform first launched 12 years ago. 

Depending on the user’s plan the cost will go up to 13-18 per cent. 

For the most popular plan (which includes high-definition streaming for up to two devices simultaneously), the price will increase from $10.99 to $12.99 per month. Meanwhile, the one-device plan will go up to $8.99 per month, while the four-device plan goes to $15.99.

“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” the company said in a statement.

Wall Street reacted positively to the news, with Netflix shares up 5.8 percent as of 10:15am Eastern.

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