Netflix raising rates

January 16, 2019 at 12:00a.m.

SAN FRANCISCO

Netflix is raising its U.S. prices by 13 to 18 percent, its biggest increase since it launched its video streaming service 12 years ago.

Its most popular plan, which offers high-definition streaming on up to two different internet-connected devices simultaneously, will see the largest hike: $13 per month from $11. That is a few dollars less than HBO’s monthly streaming service of $15.

The extra cash will help pay for Netflix’s investment in original shows and films and finance the debt it has assumed to ward off rivals such as Amazon, Disney and AT&T.

Netflix’s shares went up 6.5 percent Tuesday after the announcement.

Staff/wire reports