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Netflix raising prices for its standard, premium plans

Netflix raising prices for its standard, premium plans
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Streaming media company Netflix is raising its standard and premium plans for its US subscribers.

According to Netflix, which announced the news on Thursday, the standard plan is now $13.99 a month, jumping up a $1 from last year when it was $12.99 a month.

The premium jumped up by $2 and will now cost $17.99 a month.

The company's basic plan will stay at $8.99 a month.

Current subscribers will see their monthly bill increase in the coming weeks, USA Today reported.

According to CNN, Netflix's stock increased 5% following the news.