Netflix and Chill Is About to Get More Expensive The video-streaming service is raising prices across the board.

By Angela Moscaritolo

entrepreneur daily

This story originally appeared on PCMag

Netflix via PC Mag

Bad news, Netflix subscribers: The video-streaming service is raising prices across the board.

As the Associated Press reports, the Basic plan is increasing to $9, up from $8. The Standard plan -- Netflix's most popular offering, which offers HD-quality streams and lets you watch on up to two devices at a time -- will jump to $13, up from $11. The Premium plan, which offers Ultra HD quality and allows four concurrent streams, will be $16, up from $14.

This is the first time Netflix has raised the price of its Basic plan since launching it in the U.S. in 2010.

Netflix has already updated the pricing on its website for new subscribers. Existing customers will reportedly see their bills increase during the next three months. Besides U.S. customers, the price hike will reportedly affect users in 40 Latin American countries. The AP notes that this is Netflix's "biggest increase since the company launched its streaming service 12 years ago."

"We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience," a Netflix spokesperson told PCMag.

Netflix will reportedly use the extra cash to fund its original content, which was expected to top $8 billion in 2018.

Netflix last raised prices in the U.S. in October 2017, but only on its top plans. At that time, the Standard plan increased by $1 and the Premium plan rose by $2. Before that, Netflix raised the price of its Standard plan by $1 in October 2015.

If you're looking for something to watch on Netflix, check out the lists of everything coming to the streaming service this month and the most-binged shows and movies of 2018.

Angela Moscaritolo has been a PCMag reporter since January 2012. 

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