Netflix is raising its prices starting this month

Netflix content chief Ted Sarandos

Subscribers will be notified first.

The price increase is effective immediately for new subscribers but existing subscribers will see the price hike implemented over months.

Netflix on Thursday said it is bumping up subscription prices in the United States and parts of Europe as the leading online streaming service invests in more shows and features.

The price of the Standard tariff, which offers two-screens of simultaneous viewing and HD video, is going up from $9.99 to $10.99. Is this just the cost of business and it's just $1-2 more per month so it's not a big deal?

If the typical American household is only willing to spend an average of roughly $100 a month on television, then it would make sense for Netflix (or Amazon, or Hulu, or whomever) to try to capture as much of that $100 as it can. Netflix plans to inform customers by October 19 of the change.

This will be the first U.S. price hike since 2014, when customers who'd been grandfathered in on the $7.99 Standard plan were asked to pay the same $9.99 as regular customers.

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But paying for exclusive TV series and films hasn't been cheap.

RBC Capital Markets analyst Mark Mahaney believes Netflix's programming line-up is so compelling that the service could charge even higher prices and still retain most of its audience.

Netflix has seen its subscriber base continue to grow in 2017.

The last time prices increased for the streaming services was in 2014 and the process took almost two years to roll out to all customers.

Apparently banking on fans' appetite for another 1980s Hollywood nostalgia trip, Netflix has decided now is the time for a price bump.

The cost of the streaming video giant's basic plan, at $8 a month, will remain unchanged. He predicted the upcoming price increase will generate an additional $650 million in revenue next year. Netflix lost 600,000 subscribers and its stock price plummeted by 80 percent in the subsequent backlash.

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