Netflix Price Increase: Streaming Service Raises Cost Of Popular Subscription Plan

We knew it was only a matter of time before Netflix increased its prices. According to Entertainment Weekly new Netflix customers will have to pay a little extra for the service's most popular streaming subscription.

The subscription plan in question is the one that allows users to stream on two screens from the same account at one time. Previously this plan was $8.99 and has been increased to $9.99 for new users. It's only a dollar more and if you're sharing said account it's less than $5 each.

Users who are already signed up for the current plan will continue to pay that price for a limited time, October 2016 to be exact. However, if you are content with paying $7.99 the company does have a plan for you, reports The Verge. The said subscription lets you stream non-HD content on only one screen.

Netflix explains the price jump is necessary to help the company "bring more great content to users."

Compared to other streaming services the price hike is not terrible as Hulu now has two paid subscriptions including one with ads for $7.99 per month, or an ad-free plan that costs $11.99.