Netflix is raising prices

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(CNN) — Netflix's prices are going up again.

The streaming media company said Friday it is raising the prices on its standard plans in the United States and Canada.

In the United States, the subscription price for the standard plan went up $1.50 to $15.49. The basic plan went up $1 to $9.99 and the premium plan went up $2 to $19.99

In Canada, the price for Netflix's standard plan also went up $1.50 to $16.49 Canadian. The premium plan went up $2 to $20.99 Canadian. Its basic plan was unchanged.

Explaining its decision, Netflix delivered CNN a statement that was identical to its comment from October 2020, the last time it raised prices.

"We understand people have more entertainment choices than ever and we're committed to delivering an even better experience for our members," a Netflix spokesperson said. "We're updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget."

Netflix's stock rose roughly 2% following the news.

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