Netflix Raising Video Streaming Prices

By: AP
By: AP

Netflix is raising its Internet video subscription prices by as much as $2 per month this summer to help pay for more programming such as its popular political drama "House of Cards."

The price increase will be imposed on new customers by July. The company says current subscribers will continue to pay $8 per month for a "generous time period."

Netflix announced the price increase as part of its first-quarter earnings report. It earned $53 million, or 86 cents per share, up from 5 cents per share last year.


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