>> Your Netflix subscription is about to get a little more pricey. The streaming giant, on Tuesday, announced it's raising prices in the US on all three of its plans by 1 to $2 a month, making it the company's biggest price hike since it launched. The extra cash will help Netflix pay for its huge investments in original shows and movies, investments that haven't come cheap.
As of last September, Netflix has amassed about $8 billion in long-term debt, as it throws cash at creating buzzy originals like Birdbox, and that's not all. Netflix is also spending heavily on licensing. Last year, it reportedly paid an astonishing $100 million to keep Friends on Netflix for another year.
But Netflix says this is all necessary to keep subscribers interested, especially as new platforms from Disney, AT&T Warner Media, and NBC Universal start to flood the landscape. And investors are buying the plan. Netflix's shares are up nearly 6% on the news