Netflix confirmed it would be “adjusting prices” on most of its plans in its shareholder letter released Tuesday, saying the company “will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix.

Netflix's (decision to raise rates brings its ad-supported standard plan to $7.99 a month. That matches the cheapest plan available from Comcast’s Peacock, but remains a dollar or two below what's offered by other major streaming services.