Netflix Prices Going Up Next Month

For those that forgot it was coming, Netflix is planning to increase its subscriber rates soon.

The streaming service is reminding American subscribers this week that the price hike announced in January will start in the next billing cycle.

Prices are going up between one to two dollars. The price of the basic plan will rise from $8 to $9 per month, the standard plan that includes HD streaming on two devices will go from $11 to $13 per month, and the price of its premium plan will increase from $14 to $16.

Netflix has also budgeted $8 billion for new shows and movies.

The price hike is a result of competing with other streaming services. Netflix will be facing new competition as Apple recently announced its own streaming service - plus Disney, NBCUniversal, and WarnerMedia (CNN's parent company) all plan to launch streaming services this year, too.

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