Netflix is putting up the prices for their higher-tier customers.
Two categories will be affected by the new changes as Netflix are introducing a new pricing scheme to support their platform. Firstly, the change will affect the mid-tier customers who now pay $9.99, after the change they will be paying $1 extra more which will total $10.99. Whilst top-tier users who pay $11.99 will now pay $13.99 with an increase of $2.
This was not bad news for Netflix investors as Netflix shares grew by 4.25 percent to $192.29. Making it the biggest one day gain since July.
This decision for Netflix to raise prices seems good enough as the streaming service has rapidly increased the amount of new content they have been producing. Shows such as Stranger Things have brought in a massive user base and now with its Season 2 to be released soon Netflix decided a price rise is fair for great new content.