Netflix increases monthly subscription fees for two plans

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(Reuters) – Netflix Inc (NFLX.O) has raised the monthly subscription fees for two out of its three main U.S. plans by $1 and $2 respectively, according to details published on the company’s subscription page on Thursday.

The company’s midrange plan, which allows streaming on two devices at the same time, was increased to $10.99 per month from $9.99, according to the details on the page.

The top-tier plan, which allows streaming on four screens in high definition, was raised to $13.99 per month from $11.99. The basic plan fee remained at $7.99.

Shares of the company rose as much 3.8 percent to $191.40 in morning trading.

The price hikes will only be in the United States and will start in November, depending on users’ billing cycles, technology website Mashable reported.

The higher pricing comes as the video streaming service spends heavily on getting original content and expanding outside the U.S.

Reporting by Supantha Mukherjee and Aishwarya Venugopal in Bengaluru; editing by Patrick Graham, Bernard Orr

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