Netflix now has three plans: a basic plan, a standard Full HD plan, and a premium 4K plan - only the latter two will get their prices increased, and the cheapest plan will remain at $7.99 price.
The streaming service previously changed its prices back in 2016, when the standard plan went up from $8.99 to $9.99 per month (though older customers were paying $7.99). 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.
Charges only apply to the two top tiers of membership - the Standard and the Premium. In a recent interview with Variety, Netflix's chief content officer Ted Sarandos said the company plans to spend around $7 billion on content in 2018, up $1 billion from its spending in 2017.
Netflix has just announced that they will be increasing their prices starting on the fifth of October to help pay for its productions. This is the first time the company has increased prices in two years, USA Today reported.
These changes are only now in effect for new customers, as of October 5. Netflix will begin raising prices in November and by December it plans to have all users on its new pricing tiers. The plan is seeing a $2 price increase from $11.99 to $13.99.
Consumers who purchase Netflix's basic $7.99 plan with remain unscathed.
At the time, the streaming giant said the increase would only affect new subscribers. If you sign up Thursday or later, you'll start at the new rates.
As Mashable points out, despite the increase, Netflix remains one of the most economic streaming services on the market.
There is also the premium package, giving access to Ultra High Definition streaming, which now costs £8.99 per month.