Netflix is increasing the price of its streaming plan by $1 for new members, but it will allow all existing subscribers to continue paying their lesser rate for another two years. This is the first price increase that the streaming plan has seen in most regions since its introduction in 2011. Other regions may also be seeing a similar price change. \We want to get this done well.\\To continue adding more movies and TV shows and delivering a great streaming experience, we previously announced that we planned to increase our price slightly for new members,\ a Netflix spokesperson says in a statement. \That increase is happening today.\ In the US, the basic streaming plan will now cost $8.99 per month. Netflix CEO Reed Hastings announced that the price hike was coming last month, at the time explaining that it would likely be a one to two dollar increase and that existing members would be grandfathered into their current plans for a \generous\ period of time.