Netflix is raising the price of its most popular plan

Netflix is raising its prices for US subscribers

Netflix is raising subscription prices in the us and parts of Europe as the leading online streaming service invests in more shows and features, the company said Thursday.

UBS analyst Doug Mitchelson said the timing of the price increase coincides with what his firm expects will be a strong fourth quarter content slate that could help minimize churn. A different premium plan, which allows users to view content simultaneously on four different screens, will increase 17 percent in price - or $2 - from $11.99 to $13.99.

More people are subscribing to Netflix every day, so if you know someone who is about to get Netflix, let them know about this before they get to the checkout screen and get a bit of a shock.

The company made a more gradual move in 2014, which did not provoke the same outrage, but the recent price hike could see it lose out to its rising competitors across Asia. The basic, non-HD UK subscription will remain at the current price of £5.99. It makes sense, however, as Netflix is continuing to produce original content. Ted Sarandos of Netflix claims that by next year they intend to spend at least $7 billion on original programming.

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With its price increase, Netflix will charge more on a per-month basis than similar plans offered by either Hulu or Amazon.

The price hikes will only be in the United States and will start taking effect from mid-November, depending on users' billing cycles. Netflix has already started raising the cost for new customers in the U.S. The price increase will begin for current subscribers on October 19.

Speaking to the Independent Hastings said: "We want to take it very slow, over the next decade I think we'll be able to add more content and have more value and then price that appropriately". "I don't think we'll see an immediate impact (on Netflix subscriber numbers), but this could affect subscriber growth in the first or second quarters (next year) for Netflix". This is the cheapest option, and is now not subject to the price increases.

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