Netflix raises monthly standard and premium package prices

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Netflix on Thursday raised the price of the standard and premium packages to $13.99 and $17.99 a month, respectively. Previously, the two packages were priced at $12.99 and $15.99, respectively.
Existing Netflix customers will adjust their prices in the next two months and receive 30 days’ notice before the official price adjustment.
The entry-level basic package price remains unchanged at $8.99 per month. Netflix’s last price hike was in January 2019, before which the base, standard and premium packages were $8, 11 and 14 per month, respectively.
Greg Peters, the company’s coo, revealed in a recent conference call that prices could rise in the future. He said at the time that if Netflix continued to invest in high-quality home-made content and deliver value to users, it might require “users to pay more.”.
Netflix’s standard package offers 1080p image quality, allowing users to watch on both devices at the same time. The advanced package supports 4K video and HDR, and can use up to four screens at the same time. The basic package only supports 480p, which is about the same quality as DVD.
Netflix shares were up more than 4% at one point before the price adjustment was announced on Thursday, and closed up 3.7% for the day. Disney shares also rose more than 3%.