What was once rumored is now a reality. Netflix has announced that beginning today the company will offer a new, streaming-only service option for $7.99 per month. The plan, which does not include any by-mail DVD rentals, allows users to stream available titles to their televisions, mobile devices, and computer screens. “Creating the best user experience that we can around watching instantly is how we’re spending the vast majority of our time and resources,” reads the press release.

The second, and less attractive bit of this story, is that the company also plans to increase monthly plan prices by anywhere from $1 to $8. Netflix did not offer any explanation for the increases, but did note that the price of its two most popular plans — one DVD and 2 DVDs — will only rise by $1. Hit the bounce to see how your Netflix plan will be affected.

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