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The price of Netflix is set to rise again in future.

CEO Reed Hastings told investors recently that the streaming service would increase its prices in the US in order to raise more revenue. It needs this to fund more of its critically-acclaimed original programming.

It's likely viewers in the UK will also face a price rise.

But not straight away. The price rise will be brought in gradually, according to Hastings, "We want to take it very slow," he said. "Over the next decade I think we'll be able to add more content and have more value and then price that appropriately."

This should soften the blow somewhat. Just last month, Netflix raised the price by 50p for new subscribers. The basic option – streaming standard definition to one device – stayed at £5.99 a month, but the HD tier – which lets you stream to two devices – went up to £7.49 a month. The £8.99-a-month 4K option, which lets you stream to four devices, remained unchanged.

The new price only applied to new customers, however. Existing customers continue to pay £6.99 a month until May 2016.

Netflix wants to reach almost every country in the world by the end of 2016. In October, it will launch in Italy, Spain and Portugal.

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