NEW YORK (TheStreet) -- Netflix (NFLX) announced a streaming plan on Monday that starts at $6.99 per month as opposed to $7.99 per month. Shares of the Internet video streaming service are down 0.1% to $366.99.
The streaming plan is available to new subscribers who are just trying the video service. The $6.99 Netflix streaming option limits users to just one stream on one device at a time. The standard $7.99 plan lets users watch Netflix content on two devices simultaneously.
Netflix previously announced a $11.99 family plan that lets subscribers watch four streams at once.
The news plans mean that Netflix subscribers have the option to upgrade or downgrade their subscriptions as they see fit. It's potentially useful if the company ever raises prices for its services.
On Monday Netflix also announced the termination of its stockholder rights plan. The plan previously granted all shareholders the right to acquire more shares if any single shareholder held more than a 10% stake in the company.
TheStreet Ratings team rates Netflix as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate NETFLIX INC (NFLX) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and generally higher debt management risk."