Netflix members in the UK and Ireland will have to pay more to view shows like Bridgerton and The Crown, as the streaming firm hikes its fees for the second time in less than 18 months.
Following a wave of price hikes for UK users in December 2020 and those in Ireland in March last year, the decision is the latest reminder of the financial toll rising competition is having on the world’s most popular business.
Netflix, which has over 14 million UK users and 600,000 in Ireland, according to Ampere Analysis, is to hike the price of its most popular plan, which includes simultaneous viewing on two screens, HD and the option to download episodes and films to two devices, to £10.99 a month.
For the first time in a decade, it is also hiking the price of its basic package. The most basic option, which lets users to watch only one screen at a time and download to one device, will cost £6.99 per month.
Netflix’s premium plan, which allows users to stream Netflix on up to four screens at once and download content to up to four devices, will rise by £2 per month to £15.99. The basic plan will go up by €1 to €8.99 in Ireland, the standard package will go up from €12.99 to €14.99, and the premium tier will go up from €17.99 to €20.99.
The price hikes will take effect immediately for new customers, following a significant increase for US consumers in January. Existing members will be notified via email for a period of 30 days, depending on their billing cycle.
Netflix explained the price hikes as an unavoidable expense of sustaining a steady stream of new content for subscribers in the face of increased competition from rivals such as Amazon Prime Video, Disney+, and HBO Max.
With a $1 billion yearly content investment, the UK is Netflix’s largest production base for TV series and films outside of the US.
Netflix’s most popular tier cost £8.99 and its premium plan cost £11.99. Before the two price hikes, the most popular tier cost £8.99 and the premium plan cost £11.99.