Binge-watching just got a bit pricier for Canadian Netflix customers.
The online streaming service, home to popular original series like House of Cards, Orange is the New Black and Stranger Things, is hiking subscription rates across the board for the first time in two years.
The company, headquartered in Los Gatos, California, will immediately increase prices north of the border for new customers. Existing subscribers will also be hit with the same spike in the coming weeks and will be notified by email.
Netflix is raising its standard plan, which allows customers to stream on two screens at one time, by a dollar to $10.99 per month.
Its basic plan, which is limited to one screen and doesn't offer high-definition streaming, is also going up by a buck to $8.99 per month.
The premium plan, which offers ultra-high definition (4K) streaming on up to four simultaneous screens, is jumping by a twoonie to $13.99 per month.
The price increases only affect Canadian customers. Netflix says the decision was made in an effort to bolster its content and services.
"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," the company said in a statement to The Canadian Press.
These price hikes come at a time when Netflix is facing stiffer competition as alternative streaming platforms like CraveTV, Hulu and Amazon Prime gain ground.
It's part of a larger trend of “cable cutting” where increasing numbers of consumers — particularly Millenials are canceling their television subscriptions in favour of online streaming services.
