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Netflix To Raise New Customers' Subscription Rates

RENEE MONTAGNE, HOST:

NPR's business news starts with the rising cost of Netflix.

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MONTAGNE: The online video provider will raise the price of its subscriptions by one or two dollars over the next few months. This only affects new subscribers for now. Current subscribers won't see a rate hike for at least a year.

CEO Reed Hastings says the higher fees will increase the number of TV shows and movies Netflix offers and improve video streaming. Transcript provided by NPR, Copyright NPR.