Netflix announced Friday that it was raising monthly subscription prices between one and two dollars in the United States, depending on the plan, to help pay for new programming and to compete in the mass television streaming market.

"We are updating our prices so that we can continue to offer a wide variety of quality entertainment options," said a company spokesperson.

The standard plan, which allows two simultaneous broadcasts, now costs $15.49 per month, up from $13.99 in the United States.

Prices have also gone up in Canada, where the standard plan has gone up from $14.99 Canadian to $16.49.

The increases, the first in the streaming market since October 2020, went into effect immediately for new customers. Old subscribers will see the new prices in the coming weeks when they receive their monthly bills.

"We understand that people have more entertainment options than ever before and we are committed to providing an even better experience for our customers," he said.

"As always, we offer a range of plans so that members can choose a price that works for their budget," the spokesperson added.

The world's largest streaming service is facing its biggest competition ever from companies looking to attract viewers to online entertainment. Walt Disney, AT&T WarnerMedia, Amazon.com and Apple are among the competitors pitching billions in new programming.

Netflix has increased its customers despite previous price increases, which shows that its subscribers have been willing to accept higher costs, said Evercore ISI analyst Mark Mahaney.

"This is proof that Netflix has pricing power," Mahaney said.

Netflix had said it would spend $17 billion on programming in 2021. The company did not reveal spending for 2022.