Looks like the third season of Stranger Things is going to cost fans a bit more. A representative from Netflix has confirmed a report from the AP announcing that the streaming giant is raising its prices within the U.S. by 13 percent to 18 percent, the biggest increase the company has implemented since it launched its streaming service 12 years ago.
This price hike will bring its most popular plan, which offers high-definition streaming on up to two different internet-connected devices simultaneously, to $13 per month, up from $11. The prices go into effect into the U.S effective January 15.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” said Netflix in a statement.
These increases will also apply to countries in Latin America and the Caribbean where Netflix bills in U.S. dollars (such as Uruguay, Barbados, Belize) and exclude major markets like Mexico and Brazil.
This extra revenue is designed to help Netflix pay for its investment in original films and programming and help compete against such rival platforms from Amazon, Hulu, Disney and AT&T. With the streaming field only getting more crowded, Netflix is looking to hedge its massive subscriber base to maintain its competitive edge.
Netflix has produced such original fare as Stranger Things, Bird Box, and Black Mirror: Bandersnatch, as well as the upcoming offerings Russian Doll, Velvet Buzzsaw, IO, and a whole lot more.