Netflix raises monthly charges for US customers, shares jump

Streaming video service Netflix Inc on Thursday raised monthly charges in the United States for its standard and premium subscription plans, a move that sent the company’s shares climbing nearly 5%.

Netflix increased the cost of its standard subscription by $1 a month to $14, and the price for the premium tier rose by $2 per month to $18. The standard plan, the company’s most popular, enables two streams at the same time, while the premium plan allows for four simultaneous streams.

The price increase was the first for US customers since January 2019.

Shares of Netflix jumped 4.8% to $509.53 in afternoon trading on Nasdaq.