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Netflix to raise prices for new subscribers

​While announcing better than expected quarterly stock gains Monday, Netflix said higher prices are coming to the online streaming service.

In its first quarter earnings report, Netflix announced Monday that new customers could see a $1 or $2 price hike in the next few months after a recent test price increase in Ireland caused little stir. But don't worry, current subscribers would pay current prices for a “generous time period.”

The company posted gains of 86 cents per share, surpassing estimates of an 83-cent gain. Netflix’s revenue stayed on track with projections at $1.27 billion for the quarter.

>> Read more trending stories

In a letter to shareholders, CEO Reed Hastings credited the bump to international success and the much-hyped season two of the site’s "House of Cards" series. According to a February report by data company Procera, eight times as many people tuned in to season two’s premiere date than for season one.

Hastings added that the show “attracted a huge audience that would make any cable or broadcast network happy.” And Forbes writes “Netflix needs exclusive shows like House Of Cards to continue adding subscribers and retaining them.”

Netflix also took aim at HBO, citing a Morgan Stanley poll showing 17 percent of people naming Netflix’s original programming the best, second only to HBO.

And it’s clear Netflix will have to up their content to emulate the broadcast giant. With mega-hit "Game of Thrones" and surprise hit "True Detective" getting rave reviews, HBO could be set for awhile.

But Hastings and Netflix CFO David Wells sound ready, if not excited, for the challenge. Just before ending their letter to shareholders, they added “We are approaching 50 million global members, but that is far short of HBO’s 130 million. We are eager to close the gap.”

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The Latest News Headlines

  • UPDATE: Palm Bay police have reported that Victoria Stites, missing since Sunday, has been found safe. She was located in Jamaica, New York. No further details were immediately released. ORIGINAL STORY: Police are asking for the public’s help in finding a Florida teen who is missing and considered to be in danger. >> Watch the news report here Victoria Stites, of Palm Bay, is 19, but her mental capacity is lower than her age, Palm Bay police say. She is possibly traveling to Jamaica, New York, with a man she met on Facebook. >> Read more trending news She was last seen Saturday leaving her Palm Bay home, north of Vero Beach, wearing a green shirt and black jeans, and carrying a purple duffel bag.  She has blonde/brown hair and brown eyes. She is about 5-foot-7 and weighs 135 to 140 pounds.  Anyone with information on her whereabouts is asked to call 1-800-423-TIPS. 
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  • After a reported bank robbery in Mandarin, the Jacksonville Sheriff's Office is now tying the same suspect to at least three other crimes.   Between May 18, 2017, and June 16, 2017, JSO says there are four bank robberies in the Jacksonville-area that appear to be related:  06/16/2017 – BB&T Bank located at 11331 San Jose Boulevard  06/07/2017 – Bank of America located at 13170 Atlantic Boulevard  05/25/2017 – First Florida Credit Union located at 4530 St Johns Avenue  05/18/2017 – Atlantic Coast Federal Bank located at 8048 Normandy Boulevard   In each robbery, police say the suspect enters the bank wearing a hat and sunglasses and then approaches the teller, pulls out a black semi-automatic handgun, and demands money. Once the suspect receives the money, he flees the area on foot.   If you have any information about where this suspect is, or even who he is, you're urged to contact the Sheriff's Office at (904) 630-0500. 
  • The Jacksonville Sheriff’s Office is searching for a man who held up a Mandarin bank. Police responded to the Suntrust Bank on San Jose Blvd. Monday after a suspect walked in, slipped the teller a note demanding money, and fled with cash. JSO says the suspect went to a wagon-type vehicle parked nearby and then drove off.  This incident has been classified as an armed bank robbery, although JSO says a weapon wasn’t shown and nobody was hurt.  The suspect is described as a white man who’s around 6’3” and was last seen wearing a Gators cap, dark jacket, and black shorts.  This robbery is not believed to be related to any other recent bank robberies which have occurred in the area, including one just to the north of this bank ten days ago.  We will update this story as more information is available and if JSO provides surveillance footage from the bank. If you have any information, you’re asked to contact JSO at 904-630-0500.
  • The Supreme Court on Monday announced that it would listen to arguments surrounding President Donald Trump's controversial travel ban during its October sitting. >> Read more trending news

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