Netflix Raises Subscription Price

Jessica Napoli
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U.S. online streaming giant netflix is raising its prices.

You thought cutting the cord would be cheaper? Think again. It will soon cost more for new and exiting customers to stream their favorite shows like Stranger Things and Master on None on Netflix.

As of October 19, Netflix is raising the subscription prices for U.S. users who have standard or premium plans. The standard plan will hike from $9.99/month to $10.99/month and the premium plan is set to rise to $13.99/month from $11.99/month. Basic planners, you lucked out. That's the only plan that will not see a price jump from its $7.99/month.

This marks the first large price increase since 2014. Netflix is still cheaper than HBO Now, which is $15/month, but now costs more than Hulu Plus at $11.99/month.

Netflix Coming Soon to a Plane Near You

Netflix Coming Soon to a Plane Near You

Catch up on 'Stranger Things' and 'House of Cards' while 40,000 feet in the air.

The reason? Netflix told The Hollywood Reporter in a statement, "From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster."

Given Netflix's successful and popularity of series like House of Cards and Orange Is the New Black, it's not likely the price hike will deter its 53 million U.S. subscribers from using the streaming service, but it will certainly affect their credit card bill.