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The Netflix Price Increase Begins Today

Steve KovachMay 9, 2014, 18:22 IST

Wikimedia Commons

Starting today, new Netflix customers will have to pay $1 more per month for the streaming video service. It now costs $8.99 per month.

Peter Kafka of Re/code first noticed the change, but Netflix's website still says the service costs $7.99 per month as of this writing.

Current Netflix subscribers will be grandfathered into the original $7.99 per month price for a "generous time period," Netflix said when it originally announced the price hike in April.

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Netflix said it's raising prices so it can continue to grow its streaming content library. The company is investing a lot of cash in original shows too, like "House of Cards" and "Orange Is The New Black."