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NETFLIX Announces Plans To Raise Subscription Fees

 
NETFLIX Announces Plans To Raise Subscription Fees
Posted April 21st, 2014 @ 7:38pm

SAN FRANCISCO (AP) _ Netflix is preparing to raise its Internet video subscription prices by as much as $2 per month this summer to help pay for more programming such as its popular political drama ``House of Cards.''

 

  The price increase will be imposed on new customers by July. The company says current U.S. subscribers will continue to pay $8 per month for a ``generous time period.''

 

  Netflix announced the price increase as part of its first-quarter earnings released Monday. 

 

  Investors evidently liked the move. The company's stock surged 6 percent in extended trading after the results came out.

 

  Netflix Inc. earned $53 million, or 86 cents per share, during the first three months of the year. That compared to $2.7 million, or 5 cents, last year.

 

  Revenue rose 24 percent to $1.3 billion.

(Photo: Getty Images Latam / 2011 Getty Images)

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