Got an extra dollar per month for your video streaming?
Netflix announced it's raising the price of its popular streaming subscription plan, in which two viewers can use a subcription concurrently, from $8.99 to $9.99 per month for new subscribers in the U.S., Canada and Latin America.
Netflix contends the price increase is necessary to keep its stream of content flowing. The company has $4.3 billion in programming costs over the next year.
"To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America," a Netflix spokesperon said in an emailed statement.
The price hike will not affect pricing for the one-screen and four-screen plans, which remain unaltered at $7.99 and $11.99, respectively.
Pricing for existing members of the two-screen plan will remain in place until October 2016, unless they're protected by a price guarantee with a longer timeframe.
The dollar bump marks the second price hike to the streaming service U.S. sector -- where it currently boasts 43 million subscribers -- in less than two years. The two-stream plan saw its price raised in May 2014, then also by $1, from $7.99 to $8.99. Existing customers then were told their rates wouldn't change to the new price for two years.
In August, the Los Gatos, Calif., company applied a 10% increase for its European markets for the standard two-steam HD subscription service for new members.
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