Recently, Canadian Netflix users were hit with some bad news: The beloved streaming service is raising its prices.

The Canadian Press recently announced that Netflix will be raising its subscription fees in an effort to stay competitive in a market that’s gradually attracting more video streaming services.

Unfortunately for viewers, this will be the service’s biggest price increase yet.

The Canadian Press reports that the basic Netflix plan will now cost subscribers $9.99 a month—a dollar more.

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The standard plan will rise by $3 to sit at $13.99.

Premium subscribers will soon be paying $16.99, $3 more than what they’re paying now. Viewers who pay for premium service can stream content on four devices at the same time and enjoy HD and Ultra HD content.

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The Canadian Press says new subscribers will be paying the new fees immediately, while current subscribers will be notified of price increases via email.

As for what’s driving the increase, the article says that the hike will help the company fund its TV and movie offerings, as well as improve services.

What do you think about the price hike?

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