Old Netflix user? No price hike

Investor's Business Daily

The video-streaming giant told existing customers that their prices will stay at $7.99 a month for 2 years. That comes after Netflix (NFLX) raised its price for new subscribers to $8.99, its 1st price hike in 3 years. Netflix also debuted a $7.99 plan for new customers that doesn't offer HD TV and won't let you view programs on more than 1 device at a time. In April, CEO Reed Hastings said that prices would need to be raised to keep up with rising costs for movies and TV shows. Shares rose 2.1% to 328.55.

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