Netflix prices rise across all tiers in the US

Netflix has raised its prices for U.S. viewers, as the company invests in original content amid growing competition from other streaming services.

"We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members," Netflix says.

The basic $8-per-month streaming plan will be raised to $9. The next tier, which offers streaming in higher quality and across more devices-which is the company's most popular tier-will increase from $11 to $13. The highest-tier plan, which offers 4K Ultra-HD will go from $14 to $16. These prices will roll out to existing subscribers over the next three months, and new subscribers will find them active immediately.

Netflix currently has 58 million US subscribers, and this is the first time a price hike will impact all of them at once. It has another 79 million subscribers outside of the US.

The company plans to notify existing users by email and in the app of the price increase. This price hike is the fourth time the company has raised its prices in the U.S., the last hike coming in 2017.

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