Netflix fans, brace yourselves. The subscription service has decided to raise its prices for the first time in two years.

Those of us on the Standard plan (the one that lets us watch shows and films in HD on two screens at the same time) will now be paying £7.99 a month, instead of the £7.49 we're used to.

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While Premium subscription (four screens at once and content can be watched in HD or 4k where available) charges will jump £1 up to £9.99, costing £12 extra a year.

Ok, so admittedly it's not bank-breaking, but think of all the things we might have done with that £12 a year...

According to CNBC, the price hikes are as a result of Netflix's plan to bring on more new and exclusive content as other subscription services like Hulu and Amazon become increasingly popular. Apparently, we've got one thousand hours of new, original content coming this year. Yes, seriously.

For new users these prices will be automatic, but existing users will be notified before a 30-day countdown to switch over.

From: Cosmopolitan UK