The Nasdaq Composite rose as much as 1 percent on Tuesday as shares of Netflix soared 6 percent after it announced it would raise its prices for streaming services.
The company’s Basic plan will now cost $9–up from $8. Its Standard plan will cost $13, which is up from $11, and its 4K Premium plan is now $16 as opposed to the previous $14.
Overall, prices went 13 to 18 percent higher–the online streaming service company’s biggest price jumps in over 10 years.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” the company said in a statement.
Exchange-traded funds with exposure to Netflix were higher. AdvisorShares New Tech and Media ETF (NYSEArca: FNG) was up 0.75 percent, Invesco NASDAQ Internet ETF (NasdaqGM: PNQI) rose 2 percent and Invesco Dynamic Media ETF (NYSEArca: PBS) was up 0.56 percent.