Netflix announce price hike for Aussie customers

Netflix is about get more expensive for Australian subscribers.

The video streaming company announced it has increased the cost of its premium subscription plan from $17.99 to $19.99 per month.

The $9.99 basic plan and $13.99 standard subscription fees will not change.

The new changes will start today, with existing premium subscribers set to pay the higher fee from their next billing cycle.

Any new customers will be pay the higher fee when they join.

Netflix said delivering a better service was behind the price hike.

 "We change our prices from time to time and continue to invest heavily to grow in the depth and breadth of our content such as new shows like The Politician, Unbelievable, well-loved series like Stranger Things, The Good Place and The Crown, as well as improvements to our product," the company told News Corp.

"Our basic and standard memberships will remain at the same price, ensuring as many people as possible can enjoy our content."

Less than a third of Australian Netflix users have a premium subscription, which offers 4K streaming and the ability to run four simultaneous streams.

The increase was the second for Netflix since its launch in 2015. In 2017, Netflix's standard and premium plans increased by $1, $2 and $3, respectively.

The price hike could have a detrimental effect on the subscriber base if Australians react the same way the US market did when its prices were increased earlier this year.

The company's second quarter report in July showed 126,000 US subscribers left the service after the price increase.

Netflix currently has 151 million paying subscribers globally.