Netflix is about to get more expensive for some users

Netflix is about to get more expensive for some users

"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", the company said via statement.

Netflix has decided to raise prices for some of its U.S. subscribers.

While Netflix is seeing increasing competition in the streaming market, their basic offering will still be amongst the cheapest available. So which Netflix plans are going to be going up, and when will this happen?

New users will see these updated prices on Thursday, but current customers will receive a notification on October 19 reminding them of the upcoming price changes which will take effect on their next billing cycle.

The price rises follow confirmation that Netflix is investing $400 million in setting up a permanent production hub in Canada. In fact, in 2016 alone, the company spent $6 billion on over 600 hours of both original programming and acquisitions.

According to Business Insider, the lowest-tier plan will remain unchanged.

If you've signed up to watch two screens at the same time, then the new cost will be €10.99 a month.

But the price change, first reported by Mashable, won't impact existing members yet.

According to TV Guide, the increase comes as the streaming service puts more money into developing Netflix produced shows and movies. The company, which received significant backlash when it raised prices for its service in 2015, so much so that it blamed the media for missed quarterly earnings, will bravely attempt this again this year.

Netflix has been at the forefront of streaming technology, forcing mainstream television companies and film distributors to reconsider their options.

Netflix's stock is popping, along with the price of its subscriptions.