It's unlikely the increase will deter Netflix's 100 million subscribers - especially if it comes with a promise of more high-quality original shows.
The company's mid-range plan, which allows streaming on two devices at the same time, was increased to $10.99 per month from $9.99. Its 4K streaming plan is also getting an increase to $13.99, up $2 from $11.99. The basic plan, meanwhile, which only offers standard definition on one screen, will remain $7.99. Subscribers to the lowest, $7.99 plan will not see an increase in price, according to Mashable's report.
Netflix last hiked prices in 2014, which similarly was attributed to increased TV show and movie offerings.
Subscribers won't see the updated price points on their bills until November, depending on users' bill cycles, but Netflix said customers will be notified of the increases in their October bill statements.
At the time of this writing, Netflix's stock is up about 3% since the markets opened this morning.
Netflix waited until just after the third quarter came to a close to roll out the new pricing, so this news won't have any bearing on Netflix's financial results in two weeks.
Dig into the couch cushions, Netflix subscribers.
Netflix is raising prices for subscribers in the United States and the United Kingdom.
Analysts said the company has a strong originals slate coming up on the fourth quarter - including "Stranger Things" season 2 (premiering October 27) and "The Crown" season 2 (Dec. 8) - which should minimize the impact of customers cancelling their service.