The price of your Netflix subscription could be about to increase

Stranger Things

For Netflix newcomers, the cost of joining would go from $7.99 a month to $8.99 a month.

It's unlikely the increase will deter Netflix's 100 million subscribers - especially if it comes with a promise of more high-quality original shows.

The highest tier plan (four screens and ultra-high definition streaming) will increase $2 per month. Netflix said the price change will "roll out to members over the course of the next several months".

The new price plan will come into effect immediately for new customers, while existing Netflix customers will be notified of the changes in the coming weeks. Netflix, pictured March 1, 2017, increased its prices to make way for exclusive content and new features.

In a recent report, Piper Jaffray analyst Michael Olson argued that Netflix's worldwide markets offer the most exciting subscriber growth potential.

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Netflix has begun raising prices for new US subscribers and will begin increasing prices for current subscribers on October 19.

According to Variety, the price of Netflix's most popular streaming plan - which allows for up to two simultaneous streams and access to 1080p HD content - is set to go up to $10.99 per month. The company which has about 53 million subscribers, last raised prices two years ago. The library continues to shrink, only a handful of their growing library of original content is considered "must-watch", so a price increase now seems like poor timing. The firm plans to spend a staggering $7 billion on new shows in 2018 alone.

In the coming quarters, analysts will be focused on subscription numbers to see how much churn the price hike causes.

It also referenced the new features that "improve the overall Netflix experience", which might indicate the fees Netflix is paying to content holders to allow offline playback.

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