Netflix Is Raising Prices For US Subscribers

08 October, 2017, 01:08 | Author: Terri Saunders
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Patterson maintained his outperform rating on Netflix and his $205 12-month price target.

The company said the price change is reflective of its increased offerings.

Prepare to pay more for that Netflix fix. Those on the other two tiers will have to bear with a $1-$2 price hike starting October 19.

Wedbush's Michael Pachter, who is bearish on Netflix, said he doesn't expect the hike to push subscribers away, but thinks attracting new subscribers will be more hard and expects net adds to be down year-over-year in 2018.

Shares of the Silicon Valley-based company jumped more than four percent to $192.44 in trading following news of the relatively small price hike. Users will have 30 days to accept the new rate, change their plans or cancel the service. The lower-tier plan, which allows for only SD streaming, stays where it is at $7.99 per month. The basic, non-HD UK subscription will remain at the current price of £5.99. The company is spending around $6 billion on programming this year, projected to rise to $7 billion in 2017.

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Last year, Netflix raised its standard HD plan to $9.99 per month, up from $8.99.

Reports indicate that the standard Netflix subscription, which is currently priced in at $9.99 per month is going to go up by a dollar and will now cost $10.99.

Bombardier Inc. accused the Trump administration of overreach by siding with Boeing in its bid to shut the CSeries commercial jet from the world's largest airline market by effectively quadrupling the price of any of the planes sold in the United States. In 2011, they offered a DVD and streaming service for under $10.

Pachter thinks Netflix's price increases would be more likely to dissuade potential new subscribers, and that Amazon and Hulu may draw those customers to their services instead. "I don't think we'll see an immediate impact (on Netflix subscriber numbers), but this could affect subscriber growth in the first or second quarters (next year) for Netflix". So there's that, T-Mobile's Netflix On Us promotion will still be available even with Netflix's prices increasing.

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