Yahoo Finance Netflix price rise: Cost of subscription to increase considerably
Netflix is to significantly increase its prices, the streaming service has informed customers.
The cost of a subscription will increase by as much as £24 per year, users have been told, with the new prices coming into effect soon.
The increase will arrive depending on billing cycles, and so may not go into effect from February, but users will start being informed about the increase now.
The cost of the premium plan – which allows users to view 4K or ultra-high definition content – will go from £11.99 per month to £13.99. That is a 17 per cent increase, and amounts to £24 over the year.
The standard plan – which allows for high definition and the use of two devices at nce – will go from £8.99 to £9.99 per month.
The basic plan will stay at £5.99. That includes a range of restrictions including limiting the account to one device at a time and only allowing for standard definition streaming.
The prices are actually listed on the Netflix site already, and people who joined since early December are paying the higher prices.
Users should be given a month’s notice before the rise kicks in, and so have the opportunity to leave before paying the increased prices.
Nick Baker, from Uswitch, noted that the change was coming at a time when people are particularly reliant on streaming services.
“Netflix has been a lifeline for many people during lockdown, so this price rise is an unwanted extra expense for households feeling the financial pressure," he said.
“It’s unfortunate timing that this price hike coincides with another national lockdown, when all of us will be streaming more television and films than ever."
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