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Netflix 4K streamers about to see a $2 increase to $13.99 per month

Video streaming giant Netflix is raising its prices for its upper-two pricing tiers, after a long period without a fee increase to cover the company's expanding production stable, and to enhance the service as a whole.

Starting this billing cycle the standard tier that allows for streams to two devices at once is climbing from $9.99 per month to $10.99 per month. The next tier that allows for four screens and 4K streaming, the premium tier, will increase $2 per month to $13.99 per month.

Netflix noted in a statement that the increase was required because of "more exclusive TV shows and movies," new product features, and to "improve the overall Netflix experience." Netflix said in August that it is planning to spend $7 billion on content in 2018, a seven-fold increase over this year.

Users will be notified of the price increase starting on Oct. 19.

The last price hike for U.S. customers only affected a small portion of users. Members that had been on a grandfathered $7.99 per month plan after a 2014 increase were shifted to the then-$9.99 tier in 2016.

A previous hike in 2015 saw a $1 increase for standard tier users, raising the cost to $9.99.