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Netflix Raises Prices by a $1 for New Subscribers

2014-05-09 11:14 by
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Netflix is raising its Internet video prices by $1 per month for new customers and giving its current U.S. subscribers a two-year break from the higher rates. Netflix also will charge new U.K. customers an extra $1 per month, with prices in Europe increasing by $1. The company announced plans to increase its prices back in a letter to investors issued last month. New customers can avoid the higher price if they are willing to settle for a little less clarity and flexibility. Netflix is also introducing a new $8 per month plan that will only show standard-definition video and limit viewership to just one screen. The money generated from the price increase will help fund the company's content acquisition, as well as to fund original programing, according to Netflix's top executives. Netflix has generated a lot of media attention with its original series, in particular "House of Cards" and "Orange is the New Black." But investing in those shows, as well as launching advertising campaigns to promote them, leads to higher costs.

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