• Subscriptions to rise by 13% to 18%
  • Wall Street welcomes move, with stocks rising up to 6.8%

Netflix is to raise its US prices for the first time since 2017, a move designed to alleviate a large, debt-fueled $13bn investment in new films, series and documentaries this year – as well-funded competitors emerge in the content streaming business.

The subscription price hikes, which constitute a jump of between 13% and 18%, take effect immediately for new customers but will be phased in gradually for existing subscribers over the next three months.

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