Netflix Raises Subscription Fee, As Promised

(Undated) -- The stakes are getting higher for Netflix's "House Of Cards" and "Orange Is The New Black." The video streaming service is making good on a promise it made a few weeks ago to raise the price of its subscription fee for new subscribers. A one-dollar price hike went into effect Friday pushing up the $7.99 monthly fee to $8.99 a month. It's the first increase in three years for Netflix. The company says the move was made to help expand its catalog of movies and TV shows. Netflix is also introducing a new $11.99 premium plan that allows customers to stream shows on up to four devices at once.