Prepare your wallet: Netflix has raised prices again on its most popular plans

Most Netflix customers should get ready to pay a bit more to stream their favorite movies and TV shows from the service. The most popular plan, which offers HD resolution for streaming and two concurrent streams per account, has gone up from $12.99 to $13.99 a month. The most expensive plan, which offers 4K resolution for supported movies and TV shows, and up to four concurrent streaming, is going up by $2 from $15.99 to $17.99 a month.

The price increases for the two plans are in effect immediately for new subscribers. Current subscribers will see the price increases in their next billing cycle. The Verge received a statement from Netflix about the price jumps, with the company stating simply that the increases were made “so that we can continue to offer more variety of TV shows and films.” The last time Netflix raised prices was in January 2019.

The good news? The Netflix price increase doesn’t affect its cheapest plan, at least for now. The base plan only costs $8.99 a month, but only supports SD streaming resolution, and only one concurrent stream per account.

The price jump comes just a week after Netflix announced it now has 195 million subscribers worldwide. While that beats its nearest competitor by a mile, it is still facing stiff competition from other streaming services in terms of pricing. In particular, Disney Plus has maintained its $7.99 a month plan since it launched nearly a year ago, and it still offers its bundle with Hulu and ESPN Plus for $12.99 a month. Amazon Prime Video costs $8.99 per month on its own, or $12.99 a month with an Amazon Prime subscription.

That being said, while Netflix has raised prices again, the streamer pushes out a ton of original and exclusive content every month, far more than its closest competitors. If you want to change your plan to a cheaper subscription, you can learn how to do that at the link below.

Next: How to change your Netflix plan