Netflix to Implement Largest-Ever Price Hike

You didn’t think your continued access to Friends reruns wasn’t going to cost you in the end, did you? Netflix will implement its largest-ever price hike for its streaming video service. Its most popular plan, which allows two devices to stream video simultaneously, will go to $13 a month from $11 a month. The single-stream plan will increase to $9 from $8, and the four-stream plan will jump from $14 to $16. The increase comes as Netflix battles other streaming services, like Amazon and Hulu, to find and produce popular video content like Orange Is the New Black and The Crown, The Hollywood Reporter notes. “We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” a Netflix spokesperson said. New users will see the price hike immediately; existing users will see a gradual increase over the next three months. Netflix’s stock price rose sharply after the announcement, with shares jumping 6 percent.