Netflix raises prices for some subscription plans
Posted: 11/22/2010
LOS GATOS, Calif. (AP) - Netflix Inc. is raising the prices of some of its subscription plans and is shifting its focus to streaming video as more members move to the Internet to watch movies and television shows.
The company said Monday that its subscription plans for unlimited movies and tv shows streamed online and unlimited DVD deliveries —with one DVD out at a time— will increase by $1 a month to $9.99. Prices for other plans allowing for more DVDs out at a time are also going up.
Netflix is also launching a $7.99 streaming-only plan in the U.S. to accommodate the online shift.
"We are now primarily a streaming video company," Co-founder and CEO Reed Hastings says.
Netflix shares jumped 5.6 percent in premarket trading.
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