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Netflix raising prices on premium, standard plans

The basic Netflix plan is staying the same, but those who want to watch higher quality on multiple screens will be paying more.

Netflix is increasing its subscription fees in the U.S., according to news reports Thursday.

The Netflix standard plan, which allows streaming on two devices simultaneously, will go up $1 to $13.99 per month.

The premium plan goes up $2 to $17.99 per month. That allows streaming on up to four devices.

Those two services include the Netflix HD library. CNBC reports the premium plan "includes support for sharper 4K resolutions and HDR."

The basic plan will stay at $8.99 per month. That allows streaming on one device only and does not allow access to Netflix's HD library. CNBC says the quality of the basic plan is about that of a DVD.

"We understand people have more entertainment choices than ever and we're committed to delivering an even better experience for our members," reads a company statement provided to The Hollywood Reporter. "We're updating our prices so that we can continue to offer more variety of TV shows and films — in addition to our great fall line up. As always we offer a range of plans so that people can pick a price that works best for their budget."

The price increases will happen over the next couple of months, with customers getting a 30-day advance warning, CNBC reports.

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