Netflix Announces Biggest Price Hike Yet

Netflix needs to dig a little deeper in your pockets as it continues to pump out show after show, movie after movie, while teaming up with the former leader of the free world. The streaming service raised prices for all US plans Tuesday in what Fortune reports is the biggest single increase since the company's launch. Netflix's basic plan rises to $9 per month from $8, while the most popular two-stream plan climbs to $13 from $11 and the premium plan rises from $14 to $16. The changes go into effect immediately for new customers, while existing subscribers will see their payments increase over the next three months, reports the Wall Street Journal.

A company rep says the latest increase comes "as we continue investing in great entertainment and improving the overall Netflix experience." Polygon points out the relatively short interval since Netflix's last price hike in October 2017. The company—whose stock rose more than 6% in early trading Tuesday, reports CNBC— is expected to spend $12 billion on licensing and creating content in 2019, more than double what it spent in 2017. (Disney plans to launch its own service this year.)