Netflix just announced the steepest increase ever in the price of its streaming services, according to media reports.
The standard plan, which was set at $11 per month, went up to $13 a month. The premium plan, which doubles the number of screens on which Netflix content can be watched and enables Ultra HD content, went up from $14 to $16. The basic plan rose from $8 to $9.
“The prices reflect the biggest single price hike since Netflix’s streaming service launched,” Fortune reports. “It’s also the first price increase on the company’s basic plan. New customers are subject to them now and existing subscribers will see their prices go up over the next few months.”
In a statement, a Netflix spokesperson said the increases will enable the company to “continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members.”