Netflix has announced last week that it will increase its monthly rates in the United States and Canada by $1 to $2 per month. The last time it hiked its prices was in October 2020.

In the U.S., the standard high-definition plan rises from $13.99 to $15.49 (from ¥1591.52 to ¥1762.16) per month, while Canada’s price increases from C$14.99 to C$16.49 (¥1348.61 to ¥1483.56). The online service explained in a statement that the price jumps will be utilized to pay for new programming in order to compete with other crowded streaming programs like Hulu, HBO Max, Disney Plus, Sling TV, and Peacock. “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson said. “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always, we offer a range of plans so members can pick a price that works for their budget.” About 74 million users between the U.S. and Canada are expected to see a hike in their next bill or the one after (depending on what day the billing cycle falls).