There is now no information regarding whether the company intend to raise prices in other areas.
This marks Netflix's biggest price increase in its 12 years, when it first became an online streaming juggernaut, and it'll take effect immediately for new sign-ups.
Netflix's cheapest subscription plan, that was previously $8-per-month, will now cost $9-per-month.
In a statement from the company, Netflix said they "change pricing from time to time as we continue investing in great entertainment and improving overall Netflix performance".More news: No Canadians among 7 killed in Cuban bus crash: government
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The last major price shift for Netflix was in 2017, but perhaps the most fraught, as noted by AP, was the 2011 decision to unbundle streaming and DVDs and charge the same for each, separately. Netflix has continued to invest in original programming over the past few years, going away from the licensed IP model it had towards the beginning. In short, prices are increasing just as Netflix is becoming both more prestigious and more "essential" than ever. For now, Mexico and Brazil are excluded, and it is not clear if Netflix has plans to introduce higher prices in other parts of the world.
The company is increasing the cost of its standard plan in the U.S. from $10.99 to $12.99 a month.
Netflix's most popular plan, which lets users stream HD content on two screens simultaneously, will now cost $13 per month. The company is reportedly planning to funnel this new cash flow into even more investment in original shows and films, as well as to pay off the debts it has accrued while fighting off competing services. The company says it's going to be used to generate more original content.
Wall Street analysts have believed Netflix has demonstrable leeway to safely raise fees without the risk of significant backlash. The company's stock soared in response to the price increase news.