VIDEO : Netflix Raises Prices By Up To 18 Percent

Netflix announced on Tuesday it had raised prices for its U.S. subscribers by 13 percent to 18 percent. The price hike comes as the video streaming service is ramping up expenditures for original content and expanding internationally. The increase raised the price for the standard plan to $12.99 per month from $10.99. The streaming service's top-tier plan was raised from $13.99 per month to $15.99, while the fee for its basic plan jumping to $8.99 from $7.99. Reuters reports that all price hikes will be applied to existing members over the next several months and to all new members immediately.