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.