Key Takeaways Netflix is now charging $7.99 rather than $6.99 a month for its cheapest plan.The new price is equal to the least expensive plan available from Comcast's Peacock.Most other major streaming services' plans start at a dollar or two more a month.

Netflix announced Tuesday it will raise prices on most of its subscription tiers in the US and Canada after the

The standard monthly subscription without advertisements will climb from $15.49 to $17.99, and a standard monthly subscription with ads will increase one dollar to $7.99, Netflix said. The price hikes arrived alongside a stellar earnings report that showed the largest subscriber gains over a three-month period since the company’s founding more than a quarter-century ago.