Netflix Raises Prices in U.K., U.S.

For the first time in two years, Netflix is raising its subscription costs across the U.S. and U.K.

New customers signing up for the streaming service will see the higher prices come into effect immediately. Existing customers will be notified of the change 30 days in advance. In the U.S., the plan increases by $1 a month to $10.99, and by $2 a month to $13.99 for premium subscribers. The U.K. plans will rise 50p a month to £7.99, while the cost for a premium subscription for four simultaneous users will increase by £1 to £9.99 a month.

Netflix said in a statement: “From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster.”