Netflix is raising the prices of its U.S. subscription plans by 13-18 percent. This is the largest increase since the company launched its streaming service more than a decade ago.
This will impact the existing 58 million U.S. users and any future subscribers.
The most popular plan, the standard subscription plan, is increasing from $11 per month to $13. The basic subscription is increasing from $8 per month to $9 and the premium option will be going from $14 a month to $16.
Anyone who signs up for the streaming service will be charged the new rates. Those currently with subscriptions will notice the price increase within the next three months.
This change will also affect roughly 40 Latin American countries, with the exceptions of Mexico and Brazil. The countries affected outside the U.S. are billed in American currency.
What will all this extra cash go toward? The company says it's going to be used to generate more original content.