The streaming media service is increasing its fee by $1 for new customers.
After previously announcing plans to enact a price increase, Netflix is now raising its streaming subscription fee to $8.99 per month. The updated pricing will only be in effect for new customers. Existing customers will get to keep the original $7.99 monthly fee for two more years.
Pricing in the UK has also increased from £5.99 to £6.99, and Europe pricing has gone up from €7.99 to €8.99. These price increases will help Netflix obtain more content, produce more original shows, and optimize its streaming experience. The company also recently announced expanded 4K support, with Ultra HD streaming in the works for all of its original series and select titles like 'Breaking Bad.' 4K streaming is already available for the second season of 'House of Cards.'
At press time, the U.S. Netflix website still shows a monthly streaming fee of $7.99, but current users are already reporting emails about the new $8.99 pricing. Netflix is available on a variety of smart TVs and streaming media players, including the Roku 3, Apple TV, Chromecast, and Amazon Fire TV.