Netflix at new highs
SHARES in Netflix streamed to new highs a day after the company announced its first true price hike in years.
That’s a far different result compared with 2011 when Netflix separated its streaming and DVD-by-mail service and raised prices. About 600,000 customers fled and its stock price plummeted 80 per cent.
But Netflix is a different animal today. The production powerhouse landed more Emmy nominations this year than any TV network other than HBO.
Some of the price hike, $1 a month for the most popular plan, will likely go towards producing more blockbusters.
Shares in Netflix hit a peak of $US198.92 on Friday.