Online streaming service Netflix has begun rolling out a price-hike for customers across Ireland and Europe.

From now on, new subscribers will have to pay €9.99 per month for the company’s two-stream HD plan which was previously priced at €8.99.

As a “thank you” gesture to loyal customers, existing users will initially be shielded from the increase, but can expect to pay the same rise from August 2016.

The US-based media giant has around 200,000 subscribers in Ireland who avail of its current one-stream (€7.99), two-stream (now €9.99) or four-stream (€11.99) packages.

The term “stream” refers to high-definition picture programming which can be shown on multiple screens simultaneously depending on a customer’s subscription package. The two-stream service represents the “standard” online package.

This latest fee increase is the third for Irish customers in the last 18 months, and is part of a graduated process whereby monthly prices have risen in €1 increments.

Those who joined Netflix prior to its first Irish price rise last year will still pay €6.99 until next year.

In a statement released this week, a company spokesperson said the move was necessary in order to expand the range of programmes and movies on offer.

“To continue adding more TV shows and movies, including many Netflix original titles, we’re modestly raising the price of our two-stream HD plan for new members,” it said.

Since its expansion to Europe in 2012, both profit and audience figures for Netflix have risen exponentially in line with growing acclaim for originally-produced series such as House of Cards and Orange is the New Black.

It hopes to add over 50 original shows to current listings over the next year.