Netflix raising subscription price in U.S. by $1

Starting today, that streaming Netflix subscription will be a bit more expensive.

The company confirmed it is raising the price of their service by $1 to $8.99 a month beginning Friday. Existing Netflix subscribers will maintain the original $7.99 monthly fee for two years.

"To continue adding more movies and TV shows and delivering a great streaming experience, we previously announced that we planned to increase our price slightly for new members," read a statement from Netflix. "That increase is happening today."

Netflix revealed plans to raise prices last month when it announced quarterly earnings. The company's user base has jumped to 48 million, more than Netflix forecast, while net profit jumped to 86 cents per share.

Shares of Netflix are down 1.3% to $317.51 in morning trading.


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