Netflix Ups Standard Subscription To $9.99, Stock Rebounds

Shares of Netflix Inc. jumped as much as 2.5% after falling more than 5% earlier on Thursday. The swing comes after the streaming giant's website showed a $1 increase for the price of its standard subscription service to $9.99 per month for new subscribers. That service allows subscribers to watch Netflix on two screens. The basic, one-screen service remains $7.99 and the premium service, which allows for up to four screens and ultra HD viewing, is $11.99. The company previously upped the price for its standard subscription to $8.99, and said current subscribers would eventually see a rate hike as well, though that seems to not have happened yet. Netflix streams more than 100 million hours of video content per day to more than 65 million subscribers in more than 50 countries, and plans to be in 200 countries by the end of 2016. Analysts have said that Netflix has room to increase pricing as it looks to expand.

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