NETFLIX is increasing its monthly subscription price.

The bump will see the standard tariff, which lets users stream to two devices at once, increase by £1 from £7.99/mth to £8.99.

The premium service, which permits use on four devices, has been increased by £2/mth, from £9.99 to £11.99.

The basic subscription, which lets customers stream on one device at a time, will remain the same price at £5.99.

The changes, which were announced back in May, came into effect immediately for new customers.

Meanwhile, price changes for existing customers will effect on Thursday, August 29, as specified in a company email.

And while Netflix no doubt produces reams of fantastic content – Orange is the New Black, BoJack Horseman and Stranger Things among them – the price increase comes as an unwelcome bump for many.

In fact, US customers have recently been deserting the platform in droves, thanks to its more expensive plans.

A recent report disclosed that the company had lost 126,000 paid subscribers in the US after March increases took effect.