Update (April 3): This article was updated to include the dates of the price increase.
Once again, Netflix is raising the prices of all its subscription plans. The hike will be the streaming service’s biggest price increase in the company’s history.
The basic, cheapest plan, which allows you to stream movies and television shows on just one device in standard definition, will increase from $7.99 to $8.99 a month. The standard plan, Netflix’s most popular option — which allows you stream simultaneously on two devices and in high definition — will increase from $10.99 to $12.99 a month. Netflix’s premium plan, which allows four devices to stream simultaneously and in 4K, will increase from $13.99 to $15.99 a month.
Netflix’s new prices went into effect for incoming customers back in January, while the plan will roll out gradually for existing customers. By the May 2019 billing cycle, all existing subscribers will pay the new prices.
The new pricing reflects increases of 13 to 18 percent for Netflix’s various tiers. The last time Netflix raised its prices was back in 2017, though that decision did not affect the basic plan. Netflix’s stock rose slightly with its previous price increase.
This move comes just weeks after NBCUniversal announced plans for its own streaming service, which will be free for those with TV subscriptions and $12 for those without, as well as Apple TV Plus, Apple’s slate of original programming, which will come as an additional cost to anyone with the Apple TV app. With Disney’s exclusive streaming service, Disney Plus, also on the horizon, and other companies plotting to stake a claim in the streaming war, Netflix is making a push to invest in original programming — and that comes with costs that the company is passing on to the consumer.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” the company said in a statement to the AP.