Remember when your Netflix Canada subscription was only $7.99? Yeah, neither do we.

Today the video streaming giant announced they're increasing thier prices again, jumping three dollars for their premium subscription.

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Effective immediately for new subscribers, a basic plan will cost $9.99 a month. If your subscription allows you to watch on two screens simultaneously, your bill will increase to $13.99 a month. Plans that allow four simultaneous watchers will cost $16.99 under the new price structure.

Existing Netflix users will receive an email before their bill increases.

Netflix says the high rates are meant to help fund more original series and films. It will also be used to improve the service in general—hopefully this means better search functionality!

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The change comes as Netflix prepares to battle new competitors. Recently, Bell Canada launched an updated version of their Crave streaming service which now includes new movies and up-to-date HBO series for $20 a month.

In the U.S., Disney is also threatening to steal some of Netflix's audience. The multimedia conglomerate recently announced they intend to remove all their shows an movies from Netflix in 2019. Since Disney owns Marvel and Star Wars, this is sure to have a big impact on the streaming service.

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Fortunately, Netflix Canada has confirmed as an international market they will be keeping all of their Disney content, so you don't have to worry about binge watching all the Avengers flicks.