Netflix has announced that they will be raising their fees for their streaming plans. The Basic plan will go from $7.99 to $8.99 per month, the Standard plan, which is the most popular plan, will go from $10.99 to $12.99 per month, and the Premium plan will go from $13.99 to $15.99 per month.

A company spokeswoman said in a statement, "We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience." 

This will be their biggest price hike to date and will take place over the next few months.

The streaming giant has become a major force in the world of entertainment, not only offering existing content from various studios but original award-winning programming that includes both TV series and film.