Netflix raising prices for new subscribers later this quarter

netflix profiles

Video streaming giant Netflix has announced plans to raise prices for new subscribers later this quarter, when it announced its quarterly earnings on Monday.

The price increase will cost between $1 and $2 more per month, depending on the country a user lives in. Netflix subscriptions currently costs $7.99 per month for unlimited streaming, so the increase will raise it close to $10.

Netflix assures current customers won’t be on the receiving end of the price increase “for a generous time period”, so if you’ve been holding out buying a subscription, now may be the time.

“These changes will enable us to acquire more content and deliver an even better streaming experience,” the company said in a statement.

The company also reported first quarter earnings on Monday, beating analyst expectations with earnings of 86 cents per share on revenues of $1.27 billion. From January through March, Netflix gained 2.25 million domestic subscribers, bringing the total to 35.7 million.