If you're already a Netflix member, don't worry about the price increase just yet

Netflix just confirmed that it just raised the price of its most popular plan in the US by $US1 per month.

New Netflix members will have to pay $US9.99 instead of $US8.99 each month for the plan that allows people to watch two streams simultaneously.

Some people on Twitter are, naturally, freaking out about the price increase.

But if you’re one of Netflix’s millions of US subscribers, don’t worry: You won’t see a price increase for at least a few months.

Netflix confirmed to Tech Insider that existing Netflix members “who aren’t already benefiting from a previous price guarantee” won’t have to pay more than they’re currently paying for at least a year.

When Netflix last said raised prices, by $US1 in May 2014, it gave existing members a two-year grace period before their plans would increase.

So people who joined Netflix before May 2014, and are paying $US7.99 per month for a Standard plan, will see their prices go up to $US9.99 per month in May 2016, Those who joined after that won’t see their prices go up until a year from now.

Here’s the full statement from Netflix:

To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America. As a thank you to existing Netflix members — who aren’t already benefiting from a previous price guarantee — we will maintain their current price for a year.

And here are the different plans Netflix currently offers in the US:

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