Netflix price increase: Streaming giant Netflix raises prices again for its subscription packages
Streaming giant Netflix has announced it will be increasing the price of its subscription packages for new and existing members – for the second time in less than 18 months.
The basic and standard plan will both increase by £1 a month to £6.99 and £10.99 respectively, while the premium tier will go up by £2 to £15.99.
Netflix, which has about 14 million UK subscribers and 600,000 in Ireland, has said that the price changes will allow it to “continue investing in best in class UK productions” and “offer a wide variety of curated quality shows and films” to customers.
A Netflix spokesperson said: “We have always been focused on providing our members both quality and clear value for their membership.
“Our updated prices reflect the investment we have made in our service and catalogue, and will 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 range of plans so members can choose a price that works best for them.”
In Ireland, the basic plan will increase by one euro and two euro for the Standard and Premium tiers, respectively.
The price change is immediate for all new members, while existing members will be notified by email 30 days before they come into effect, depending on their specific billing cycle.
Last week, ITV announced a new streaming service through which it will premiere much of its new content six to nine months before it airs on its traditional TV channels.
The ITVX platform will replace the ITV Hub brand as the broadcaster increases its efforts to compete with streaming giants such as Netflix and Amazon.
The service will launch with two options in a bid to satisfy a broad demographic – viewers can choose to watch ad-funded programmes for free or trade up and buy ad-free content such as BritBox.
Announcing the platform, ITV said it is adopting a “digital first windowing strategy” which will see its focus shift online.
ITVX will launch with big budget dramas including A Spy Among Friends starring Damian Lewis and Guy Pearce, Nolly starring Helena Bonham Carter, and Sir Lenny Henry’s The Little Birds.
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