By Sam Boughedda
According to Reuters, the company has increased the monthly fee by $1 to $2 depending on the plan to help fund new programming. The standard plan is said to be rising to $15.49 per month, up from $13.99.
The news is a welcome boost to Netflix shares which have dropped 17.9% in the last three months.
The monthly price in Canada will rise to C$16.49 from C$14.99, the report said.
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. As always we offer a range of plans so members can pick a price that works for their budget."
Before the opening bell on Friday, UBS analyst John Hodulik lowered Netflix's price target to $690 from $720 as he believes fourth quarter net subscription adds will likely come in below guidance.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.