Netflix is raising prices. Effective immediately, the price of the company’s Standard streaming plan will jump to $10/month for new subscribers, up from the previous monthly rate of $9. For current Netflix subscribers, the higher rate won’t kick in until October 2016.

The $10/month streaming plan supports HD streams for up to two simultaneous users. The $8/month, non-HD option remains available in the wake of today’s changes. A complete breakdown of Netflix subscription options is available on the company’s website.

Netflix defended the price hike on Twitter, saying it allows the company to bring “more great content to users,” though no other details were provided.

It’s not just Netflix prices that are rising, as the company’s share value also jumped by more than 5 percent today in the wake of the news.

How do you feel about the price hike? Let us know in the comments below.

Via: The Verge