Netflix has confirmed it is increasing its prices by up to 20% for the majority of its customers.

Effective immediately for new subscribers, the streaming giant will go from charging £7.99 to £8.99 a month for their Standard subscription service, which allows users to watch in high definition on two devices simultaneously.

Similarly, the price of their Premium service – which allows users to stream on four devices simultaneously – has been increased by £2, putting it at £11.99 a month.

Netflix also offers a Basic option, the price of which remains unchanged at £5.99, offering standard definition streaming on only one device.

Existing Netflix users will begin to be charged more in the coming weeks.

The streaming service has said the increase in fee is a reflection of their “significant investments” in “new TV shows and films”.

A rep for Netflix said: “We change our prices from time to time to reflect the significant investments we’ve made in new TV shows and films, as well as  improvements to our product.

“We have more than 50 productions planned in the UK this year, including new seasons of Black Mirror, Sex Education and After Life. Our basic membership will remain at the same price, ensuring as many people as possible can enjoy our content.”

Netflix is in for a big month this June, with three brand new episodes of the anthology series of Black Mirror coming next week, as well as a new modern series based on Armistead Maupin’s Tales Of The City books.