Netflix has again raised the monthly price of its most popular streaming plan in the U.S., with the two-stream HD tier now $10.99 per month for new subscribers — while existing customers will be moved to the new rate over the next several months. That’s up $1 per month from the previous $9.99 monthly fee.
The company also increased the monthly fee for its four-stream “family plan,” from $11.99 to $13.99 per month. That “premium” tier also includes select content in Ultra HD 4K format.
Shares of Netflix hit a new all-time high on news of the price hikes, climbing more than 4% and peaking at $192.80 per share in Thursday morning trading.
Wall Street analysts have speculated that Netflix would ratchet up its pricing, as content costs continue to balloon. The company is spending around $6 billion on programming this year, projected to rise to $7 billion in 2017. Netflix says it expects to operate with negative free cash flow for several years, and has turned to debt markets to help fund content expenses.