Netflix to raise prices on popular plans

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Here's the scoop: New users will face a $10.99 monthly subscription fee, as opposed to the usual $9.99 rate.

Netflix has treaded lightly with price increases since 2011, when it suddenly hiked prices 60% for streaming and DVD-by-mail subscribers. And if you now have the premium service, which includes ultra HD and up to four screens for streaming, you'll be paying $13.99 a month instead of $11.99. Existing members will be notified of the price increase on October 19 via e-mail and in-service notifications, a Netflix representative told MONEY.

The cost for $9.99 per month plan has been increased to $10.99. The good news for those on the basic plan is that it will remain at $7.99 per month, at least for now.

Netflix is gearing up for another price hike, it would appear. But when everybody switches to 4K, Netflix is going to make people pay more.

If you love streaming movies, documentaries or television shows over your mobile device, the price to binge watch is going up if you get your content from Netflix. Think again. It will soon cost more for new and exiting customers to stream their favorite shows like Stranger Things and Master on None on Netflix. When exactly will Netflix prices start to increase?

This year, the company spent approximately $6 billion on original content, and that number is expected to increase to $7 billion next year, according to chief content officer Ted Sarandos.

Netflix has seen its subscriber base continue to grow in 2017.

Other streaming platforms like HBO Now, Amazon Prime and Hulu have their place but they still have a ways to go before they catch up with the original content that Netflix is steamrolling out.

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