With streaming services becoming the new cable television, Netflix continues to use its large library and popular exclusive content to stay on top of the competition. Hulu has risen in popularity, and other streaming services like Amazon Prime continue to see growth, but that has not stopped Netflix from being confident that it's number 1.

Slowly increasing prices

The streaming company recently announced that it would once again be raising its monthly price. The standard plan has been bumped up $1 to $10.99. The price is seeing a slow Increase over the years, as the last time they changed it was exactly two years ago in October 2015.

While plenty of Netflix subscribers have complained about the increase, it seems fair. Most of Netflix's competitors still cost more even after this price increase. HBO costs viewers $15 per month while Hulu's monthly fee for a commercial-free plan is $11.99.

Strategic timing

There will always be customers who cancel their subscriptions due to price increases, but with its success riding on keeping as many subscribers as possible, Netflix had a plan this time. It seems that the company increased the price during what looks to be its most exciting quarter this year.

The streaming service is dropping the second season to its insanely successful "Stranger Things" later this month. The next couple months will be full of new content such as the highly anticipated "Bright" starring Will Smith and the first season of "Marvel's The Punisher." These titles are sure to keep their subscribers for only $1 extra per month.

Stocks continue to rise

According to Markets Insider, investors were very happy with the company's decision to increase the monthly price. The company's stock went up 5.36% after the announcement was made on Thursday. Netflix has grown 55% throughout this year with an additional 2.2% on Friday due to the price increase announcement.

The company's stock closed at $194.39 which is its highest number to date. It is expected to continue to grow and potentially reach up to $225 over the next year. Analysts expect that Netflix will lose some of its customer base with the change in cost, but it is not expected to have much of an impact.

In April of this year, it was announced that the service neared 100 million subscribers. Analysts predict great growth over the next three years with an estimated 176 million subscribers by 2020. It's safe to say Netflix made a smart move for both their company and investors.