The streaming media company announced Thursday it will raise the cost of its most popular service from $9.99 to $10.99 a month.
Where the Premium plan used to cost users £8.99 a month, it is now priced at £9.99 a month.
The company said the price change is reflective of its increased offerings.
LOS GATOS You're going to have to dig a little bit deeper into your wallet to pay for the privilege of watching "Stranger Things", "House of Cards" and everything else on Netflix. Over the pond in the US, American streamers will also see a bump in pricing to $11 and $14 a month on standard and premium respectively, a $1 increase.
The price increases come at a time when Netflix is spending big money to produce new content.
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According to a report published by Mashable, Netflix is going to make two pricing tiers for its USA subscribers more expensive starting next month.
You'll find the screen above with three different subscription options.
Netflix had earlier said it would spend over US$6 billion this year on original shows and expected to have negative free cash flow of $2 billion to $2.5 billion. The basic plan will not see a price increase and will retain the same monthly rate of $7.99.
NETFLIX prices are about to increase - and it won't leave you feeling chill.
In 2011, over 800,000 subscribers in the United States of America deserted the streaming service after it dramatically increased its fees. An October 2015 price hike drew such ire from new and current subscribers that the company attributed its missed quarterly growth projections to the backlash. Several years ago, they separated the plans and almost doubled the price. "We think that Netflix is destined to be a cash-burning, high-growth company until it changes its strategy and accepts its fate as a highly profitable slow-growth company". This is the cheapest option, and is now not subject to the price increases.