Netflix announces price hike ahead of fourth-quarter earning report

Streaming giant Netflix this week announced that it would hike its prices slightly in both the U.S. and Canada, the second time it has done so in about 15 months.

Prices on the streaming company’s basic, standard and premium plans in the U.S. rose $1, $1.50 and $2, respectively, with similar hikes in Canada, though the basic plan there remained unchanged. 

The company told media that it was "committed to delivering an even better experience for our members" and that the hike would allow them to "continue to offer a wide variety of quality entertainment options."

Netflix's stock rose slightly following the announcement. The company is expected to announce its 2021 fourth-quarter earnings on Jan. 20.