Netflix is raising the monthly price of its subscription plans in the U.S. and Canada.
Announced yesterday, Netflix’s Basic single SD plan will go up $1 to $9.99 a month. Its most popular standard two-stream HD plan will go up by $1.50 to $15.49 per month. Finally, its Premium 4K plan will go up by $2 to $19.99 per month.
The new prices will apply to new members and will gradually take effect for all current members who will receive an email notification a month prior to the price changes. Any plan changes will immediately take on the new pricing.
The price hikes are the first for North American customers in fifteen months and the company has seen its subscriber growth in that region slow down significantly over the past year thought to be due to increased competition in the SVOD space.