No one is ever happy about a price increase, but it appears Netflix is bumping prices for their services in the coming weeks. For their basic service, it's the first increase in 8 years. Here's when you'll see the price jump.

The price for basic Netflix Service will increase $1 to 8.99. That gets you 1 screen without HD quality. Their other two pricing plans will increase $2. Standard service lets you watch on two devices at the same time and in HD will now be $12.99. Premium packages allow use on 4 devices with HD and Ultra HD, it increases to $15.99.

The increases take effect immediately for new subscribers, existing customers will get a notification via email or through the app about when they'll see the new costs. According to CNET, during past increases, Netflix started with the newest customers first. People who had subscriber the longest received increases last.

While a $1 or $2 bump doesn't seem like much, Wall Street loved the announcement. Netflix stock rose 6% following the announcement. The company will explain more about their price increase Thursday during a conference call with investors.

Read more on the story at CNET's website.