Netflix stock rose slightly in Friday afternoon trading after the streaming platform raised the price of its subscriptions by $1-2. Netflix's basic plan in the U.S. rose by $ 1 to $9.99 per month. The standard U.s. subscription now costs $15.49 per month, up from $13.99.

Netflix will increase prices for its members. The company will report Q4 earnings on January 20. The price increases had not been pre-announced, though analysts have noted price elasticity when it comes to Netflix subscribers. Netflix's third-quarter subscriber additions in 2021 rebounded from the prior three month period.

The company saw a slowdown in subscriber growth in the first two quarters of last year. A record 142 million people watched the show in its first four weeks. During the company's last earnings report, the company said it will switch to reporting hours viewed for its shows instead of the number of accounts watched.

Netflix shares are down 11% year-to-date. Investors have recently been rotating out of tech and growth stocks amid the prospects of higher interest rates later this year. Follow Yahoo Finance on Facebook, Twitter, and YouTube on Facebook. Follow us on Twitter and Instagram.
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