Netflix Hiking Prices to Fund Fight Against HBO, Plots Arrival on Your Cable Box
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The price of “House of Cards” is about to go up as the Netflix-HBO rivalry escalates.
Sometime this quarter Netflix plans to raise its monthly prices for new customers by $1 to $2, the company said on Monday. People who already subscribe to the streaming video service would keep their current $7.99-a-month rate “for a generous time period.”
“Over the last couple years we have been improving the content selection on Netflix and broadening it If we want to continue to expand to do more great original content …we have to eventually increase prices a little bit,” Netflix CEO Reed Hastings said during a webcast to discuss the company’s earnings. In addition to helping to acquire “much more content,” the price increase would give the company more money to invest in its video-streaming technology, he said.
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