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Netflix hikes prices in Australia from TODAY - here's how much streaming service will cost you now

Netflix has increased its prices in Australia for two popular streaming plans to 'invest in more shows and films' for binge-lovers.

The basic plan jumped by $1 from $9.99 to $10.99 on Thursday, while the standard plan has risen from $13.99 to $15.99. 

The premium plan - which allows streamers to watch in Ultra HD and on four screens at once - will remain at $19.99. 

Netflix has increased its prices in Australia for two popular streaming plans (stock image)

New Netflix members will be subject to the price hike from Thursday, while those with existing accounts will notice the fee change when they pay their next monthly bill. 

The basic plan allows users to watch unlimited TV and movies on one device at a time. Members with the standard plan can stream on two devices at a time, with HD available for viewing. 

Netflix said the price increase will give Australians continuous variety on their screens, news.com.au reported. 

'We know Australians have never had more choices when it comes to entertainment, and we're more committed than ever to delivering an experience that exceeds their expectations,' a spokesperson said.

'Members tell us how much they value the breadth and variety of the catalogue, and we're updating our prices so that we can continue to invest in more shows and films.

The basic plan jumped by $1 from $9.99 to $10.99 on Thursday, while the standard plan has risen from $13.99 to $15.99. Pictured: Meghan Markle in Suits

'As always, there will be different plans so that people can pick a price that works for their budget.'

The changes come as Netflix continues to compete with a growing number of streaming platforms, including Apple TV+, Disney+ and Binge.

Binge and Stan both cost $10 for a basic plan and $14 for a standard plan, while Disney+ is $8.99 a month or $89.99 for a year.

Amazon Prime Video is $6.99 a month or $59 for the year and Apple TV+ costs $7.99 a month. 

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