UPDATE: Netflix is raising the cost of subscriptions again
By Trey Williams, MarketWatch
Netflix plans to spend $7 billion on content in 2018, up from $6 billion this year
A Netflix subscription just got a bit more expensive.
The streaming giant on Thursday raised the price of two of its memberships. The popular two-screen high definition subscription now costs $10.99, up from $9.99, and the plan allowing users to watch on four screens and in ultra-high definition was increased to $13.99 from $11.99.
The lowest tier subscription is staying at $7.99 a month.
Netflix (NFLX) shares were up more than 3% after the hike on Thursday.
Tests by MarketWatch staffers show there was no increase listed for customer's current plans.
"From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster," the company said in a statement.