Advertisement
UK markets close in 1 hour 56 minutes
  • FTSE 100

    8,162.42
    -1.25 (-0.02%)
     
  • FTSE 250

    20,134.14
    -61.81 (-0.31%)
     
  • AIM

    777.31
    -3.12 (-0.40%)
     
  • GBP/EUR

    1.1861
    -0.0018 (-0.15%)
     
  • GBP/USD

    1.2662
    -0.0099 (-0.78%)
     
  • Bitcoin GBP

    53,108.61
    -639.25 (-1.19%)
     
  • CMC Crypto 200

    1,425.98
    +8.10 (+0.57%)
     
  • S&P 500

    5,415.62
    -18.12 (-0.33%)
     
  • DOW

    38,475.25
    -171.85 (-0.44%)
     
  • CRUDE OIL

    79.03
    +0.41 (+0.52%)
     
  • GOLD FUTURES

    2,345.10
    +27.10 (+1.17%)
     
  • NIKKEI 225

    38,814.56
    +94.09 (+0.24%)
     
  • HANG SENG

    17,941.78
    -170.85 (-0.94%)
     
  • DAX

    18,031.05
    -234.63 (-1.28%)
     
  • CAC 40

    7,523.12
    -184.90 (-2.40%)
     

Netflix hikes prices for first time in two years

(Andrew Harrer/Bloomberg via Getty Images)
(Andrew Harrer/Bloomberg via Getty Images)

Streaming service Netflix has ramped up subscription costs across the UK and US for the first time in two years.

New customers signing up to the service will see the higher prices come into effect immediately, while existing customers will be notified of the change 30 days in advance, a BBC report said.

UK plans will rise 50p a month to £7.99, while the cost for a premium subscription for four simultaneous users will increase by £1 to £9.99 a month.

MORE: The 7 best shows to binge watch on Netflix UK this winter

Users who opt for a basic subscription without high definition viewing in the UK will not see their monthly price change.

ADVERTISEMENT

In the US, the plan increases by $1 a month to $10.99, and by $2 a month to $13.99 for premium subscribers.

Some European countries, including Germany and France, will also see increased charges for using the service, a spokeswoman told the BBC.

MORE: The web tool that translates estate agent clichés

Shares of Netflix jumped 5.4 per cent after the company raised the monthly subscription fees for two of its three main U.S. plans by $1 and $2, respectively.

A Netflix spokeswoman said: “From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster.”

She added that more than 1,000 hours of original content was being added to the site in 2017.

The price change for existing customers will be rolled out in the next few months.