"We are changing our prices from time to time to reflect the significant investments we have made in new TV shows and movies, as well as improvements in our product," Netflix explained according to Mako.

Israeli subscribers will pay up to 22% more depending on the plan, Ynet reported. The basic package, NIS 29.90, will now be an additional three shekels, at NIS 32.90. The standard package of NIS 39.90, will increase by seven shekels. And the premium package will go up from NIS 49.90 to NIS 60.90, an additional NIS 11, Mako reported.

The differences between the packages are the number of devices a subscriber can use to stream Netflix on simultaneously - one, two or four, as well as if the user can watch their shows on HD.

In January, Netflix raised the price in the US, increasing its standard package by two dollars. The increase was between 13% to 18%, depending on the plan, and one of the most significant increases since the start of Netflix in 2007, the BBC reported.

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Netflix announced it will increase its prices in twenty locations worldwide, including Israel, France, Italy, Spain and Ireland, Israeli media reported on Thursday.