Netflix confirmed the price increase with the following statement:
"To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America. As a thank you to existing Netflix members -- who aren't already benefiting from a previous price guarantee -- we will maintain their current price for a year."
As of now, $9.99 will get you HD streaming to two devices simultaneously; stepping up to the $11.99 "premium" plan adds the ability to stream in 4K and across four devices at the same time. There's also still a basic $7.99 plan that only lets you stream to one device in standard definition.
It seems that Netflix isn't letting existing customers keep their lower prices for as long it did with the last price increase. In 2014, it let current customers stay at the $7.99 price point for two full years. At this point, it seems likely that those customers will be moved to the $9.99 price, and those currently paying $8.99 will get to keep that price for another year.
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