Andre Yoskowitz
22 Nov 2010 17:54
Netflix has started their long-anticipated streaming-only plan in the U.S., while also raising the price of its other mixed media subscriptions.
Shares of the company have exploded $15 dollars today following the news, good for an 8 percent gain.
The streaming only plans will be $8 per month, giving users unlimited access to the company's "Watch Instantly" catalog.
All other plans, those that include access to physical discs, as well, will see a price jump, however.
Those price jumps are immediate for new subscribers or will go into effect in January for current subs.
User with a $9 subscription (1-DVD-out) will see their subscription now cost $10. Prices for other plans are seeing similar increases.
Over the years, Netflix has spent close to $1 billion on putting together a streaming catalog that now encompasses 20,000 movies and TV shows.