16 January, 2019
Basic ($8.99 a month): Standard-definition content, one stream at a time.
Netflix's most popular plan, which lets users stream HD content on two screens simultaneously, will now cost $13 per month.
The company is increasing the cost of its standard plan in the U.S. from $10.99 to $12.99 a month.
Netflix, which did not immediately respond to a Fortune request for comment, didn't waste any time updating its new customers on the price hike.
The new prices will affect all new customers in the United States, and will be rolled out to existing customers over the next three months. An additional 40 countries in Latin America that bill in US dollars will also see increases.
The California-based company, which has almost half of its 130 million paid members in the U.S., will raise the price of its most popular streaming plan with high-definition video by 18 percent to $12.99 per month.
Share value in Netflix is up 6.3 percent on the news to $354.12. This is the largest increase since the company launched its streaming service more than a decade ago.
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Netflix had almost 79 million subscribers outside the U.S.as of September.
The company's price increase could also be seen as a bet it can continue raising prices over the coming years.
Netflix's ability to increase prices while maintaining its 150m-strong audience is seen as a key factor in justifying the company's $150bn valuation.
Wall Street welcomed the move, sending Netflix shares higher as investors anticipate more revenue for the streaming giant.
Netflix is scheduled to report its fourth-quarter results after market close on Thursday.
That was also underscored by the company's strong showing at the Golden Globes, where it won five awards, more than any other network or studio.
While Netflix has to contend with other streaming services like Amazon and Hulu (with others from Disney, AT&T's WarnerMedia, and Apple on the horizon), the service continues to churn out original TV series and movies.