Netflix prices go up for the first time in two years
The price of a Netflix subscription is going up for the first time in two years.
A standard UK plan, which allows you to stream on two devices at the same time in HD, will go up by 50p to £7.99 a month.
Netflix’s premium package, which lets you watch on four different screens simultaneously, is going up by £1 to £9.99 a month.
A basic plan, which doesn’t include HD viewing and limits you to one stream, remains £5.99.
The new charges apply immediately for new customers. Starting from 19 October, existing users will be given 30 days’ notice of when they will see the effect of the price rise.
Netflix said changes to its prices and plans will happen from time to time as it adds more exclusive TV series and movies to its line-up and new features to the service.
Last year, Netflix gave customers the option to download content onto phones, tablets and laptops for the first time, allowing them to watch offline later on.
It also now offers HD streaming quality and Dolby 5.1 sound for many shows and films.
The number of titles available to watch in the UK has increased by 221% in the past five years and more than 1,000 hours of original content is being added throughout 2017.
Over the coming weeks this will include new series of Stranger Things and The Crown.
Analysis by Statista of Netflix’s previous price hikes shows that while subscriber growth does slow down a little following an increase, it never turns negative.
Netflix's domestic streaming subscribers, revenue, costs and contribution profit. Courtesy of Statista
In fact, looking at the impact of price changes on Netflix’s domestic (US) market, it’s clear that raising its standard subscription cost has a positive effect on profits.
Another thing Netflix is getting right is the quality of its original programmes, as shown by the number of awards they are winning.
The streaming service was nominated 91 times at this year’s Prime Time Emmys and walked away with 20 awards including five for Stranger Things.
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