Netflix to raise prices for new subscribers

Bolstered by a burgeoning roster of paying customers and profits that exceeded expectations, Netflix says it plans to increase prices for new subscribers.

Within the next three months, the company plans to raise new subscriber prices by up to $2, but keep existing customers' rates the same, according to USA Today.

The news comes on the back of Netflix's quarterly earnings release. The company earned profits of $53 million, beating forecasts, and grew subscriber numbers by 4 million to 48 million worldwide.

Read more from USA Today.