We've already dealt with cable TV hikes, and now, we're going to face a Netflix increase.

Get ready to pay more for your Netflix services. The media giant is bumping its prices, effective immediately, for all new customers. Plus, those with existing plans will have rate increases over the next three months.

Netflix's most popular plan will now cost $13 per month, an 18-percent jump from its prior $11 monthly price. Other plans will also increase. The company says the hike is necessary in order to maintain its competitive edge and continue to deliver top quality.

Netflix has hard costs, which continue to skyrocket in order to produce winning original content—Stranger ThingsOrange is the New Black, and hit movies like Bird Box—which separates the company from top rivals like Amazon Prime Video and Hulu.

And future opposition is lining up. Apple, AT&T and Disney are all slated to introduce their own TV streaming services this year. So, Netflix is passing along those costs to us.

Will you drop Netflix? Who will you align with for your entertainment?

More From Lite 98.7