Netflix begins raising prices, but current users get a two-year freeze (update)

Remember that Netflix price hike we were warned about? Well, it's finally happening, and it's affecting potential streamers across Europe. We say potential because although the cost is rising by £1 and €1 in the UK and across Europe, to £6.99 and €8.99 respectively, it'll only affect those signing up for the first time. The good news is that if you're already a Netflix subscriber, you'll pay the same amount you always have for at least another two years. At this time, Netflix remains quiet over its US plans (it's not had the greatest of times when it's adapted packages and switched pricing in the past) but has said previously that it will raise subscriptions by $1 or $2. Chances are US customers will see prices rise by a dollar, giving Netflix the opportunity to sink more cash into future seasons of House of Cards.

Update: US and Canadian users have now also begun receiving notification emails from Netflix and, as expected, they're seeing the same rise. New subscribers will now pay a dollar more at $8.99 a month, with existing customers enjoying a two-year grace period. Netflix is also making its single stream SD-only package official, and available for $7.99 per month -- $1 more than the test offers that popped up late last year.