Instant streaming service Netflix announced on Friday that new customers will be paying $8.99 per month, a $1 price hike.

The higher fee comes in the wake of deals Netflix is making with internet providers Comcast and Verizon who want the website to pay for the large amount of bandwidth their customers are using. By agreeing to pay these fees, Netflix customers will continue to enjoy high quality streams.

In an e-mail to existing subscribers today, Netflix says that the price hike is being made so that the company can purchase more movies and television shows.

The good news is that if you’re already a subscriber, the $7.99 rate you have will remain in place for two years.

Looking for something to watch this weekend? Check out what’s new on Netflix in the month of May.