The price of watching Netflix from Bridgerton to The Crown is on the increase, as the streaming platform raises its prices for subscribers in the UK and Ireland for the second time in less than 18 months.
Netflix has become a vital part of people’s lives worldwide. From youngsters to aged people, everyone is addicted to series and movies being telecasted on the online streaming platform, Netflix. People have switched their regular cables with this online platform, and as a result, it is increasing its price.
Last year, Netflix raised its price for UK subscribers in December 2020 and those in Ireland in March, and now again, it is doing the same within just 18 months.
According to Ampere Analysis, Netflix has a total of 14 million subscribers from the UK and around 600,000 in Ireland. It is now raising the cost of its most popular package, in which there are two screens, HD quality and the feature to download series and films on two devices, to £10.99 a month.
It is now also increasing the price of its basic plan for the very first time in a decade. The basic plan, which allows viewers to watch only one screen at a time and also to download on one device only, will rise by £1 a month to £6.99.
The price of Netflix’s premium plan, which permits users to watch Netflix on up to four different screens at a time and downloads to up to four devices, will increase by £2 a month to £15.99.
Whereas in Ireland, the basic plan will rise by €1 to €8.99, the standard package will increase from €12.99 to €14.99, and the premium tier will rise from €17.99 to €20.99.
The price rises, which were predicted after a hefty increase for its US subscribers in January, will come into effect instantly for new subscribers. Existing subscribers will get 30 days’ notice by email, as per their billing cycle.
Netflix said the increases were the unavoidable cost associated with maintaining a continual channel of new content for viewers amidst rising competition from rivals, including Disney+ Amazon’s Prime Video and HBO Max.
A Netflix spokesperson said, “We have been focused towards providing our members with both quality and clear value for their viewers.”
“Our revised prices reflect the investment we have made in our services and catalogue, and it will further allow us to continue making the series, documentaries and films our members love as well as investing in talent and the creative industry. We offer a wide range of plans so members can choose a price that works best for them.”
The United Kingdom is Netflix’s largest production base for TV shows and films outside the US, with a $1bn annual content spend.
Before the two rounds of price rises, Netflix’s most popular tier cost £8.99, and its premium plan cost £11.99.
Its rival Disney+, which launched in the UK in early 2020, raised its prices from £5.99 to £7.99 last year. The decision was taken after it doubled its content by adding its Star service to Disney+, offering programmes designed to appeal to a broader non-Disney audience, such as Lost, Desperate Housewives, 24 and The X-Files.