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Netflix raises new member monthly fee by $1

Netflix needs more money

It's happening, everyone. Netflix is raising prices. We'll give you a moment to get over the shock, though of course, you knew it was coming.

You good? Good.

Prices for new members have gone up by $1, taking the $7.99/month subscription plan to $8.99, Netflix wrote in a "Quick Update" blog post. A Netflix spokesman confirmed the new pricing goes into effect today for new members.

Current members will get to hang onto their $7.99 plan for two more years, but after that time it sounds like they're in for a price hike, too.

Get that Netflix money

Netflix has maintained it needs to raise member fees in order to keep pumping out new and top-tier content.

While the hike isn't astronomical, those who haven't already signed up for Netflix may scoff at having to pay more than their early adopting cohorts.

The streaming service is also introducing a new $7.99 plan for SD-quality viewing "on any one screen at a time." New members will be treated to a free trial of whatever plan they choose.