Netflix raises prices for Japanese customers

Netflix Inc on Thursday raised monthly charges in Japan for its standard and basic plan as the streaming giant spends heavily on original content to stave off rising competition.

The company increased the price of its standard subscription, which enables two streams at the same time, by 170 yen to 1,490 yen ($14) per month, while the cost for its basic plan was raised to 990 yen from 880 yen.

The price of the company’s premium plan, which allows for four simultaneous streams, will remain the same, Netflix said in a statement.