The daily business briefing: October 30, 2020

Netflix shares rose by 5 percent on Thursday after the streaming media giant raised prices for its U.S. subscribers. Netflix’s standard plan, which allows HD viewing on two devices at a time, is going up to $14 a month, an increase of $1. Its premium subscription, which offers Ultra HD viewing on up to four screens, is rising by $2 to $18 a month. The basic plan with standard-definition streaming is unchanged at $9 a month. The prices take effect immediately for new subscribers; existing customers will be notified of the hike as the company rolls it out over the next few months. “We’re updating our prices so that we can continue to offer more variety of TV shows and films,” a Netflix spokesperson said in a statement. [CNN]

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