Netflix now shares the distinction of offering the least-expensive streaming service in the U.S.
Netflix's (NFLX) decision to raise rates brings its ad-supported standard plan to $7.99 a month. That matches the cheapest plan available from Comcast’s Peacock (CMCSA), but remains a dollar or two below what's offered by other major streaming services.
The ad-supported plan has lately fueled Netflix signups and accounts for more than half of new subscribers in areas where it’s offered, the company said. Netflix believes it has enhanced the value of its services to subscribers, and therefore, wants them to pay more, co-CEO Greg Peters said.
Here's how Netflix's new prices compare to what its peers currently charge:
Netflix executives on a conference call Tuesday talked about their content strategy, including their interest in live programming. The stock was higher in trading today.
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