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The Markets
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The Markets
by Proactive
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The Markets
by Proactive
Proactive UK has moved.
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Media

Netflix announces first ever price rise for UK basic package

"Our updated prices reflect the investment we have made in our service and catalogue"

Netflix subscribers have been landed with another price rise, the second in under a year and including the first increase in the cost of its basic service since its launch.

The cost of a basic package is rising by £1 to £6.99 per month, with the price of all of a standard package is also rising by £1 a month to £10.99 a month.

Premium, which allows viewers to watch in high definition and through four different devices if they want,.goes up by £2 a month to £15.99 a month.

The streaming group last raised prices for its standard and premium plans in January.

"We have always been focused on providing our members both quality and clear value for their membership,” Netflix said.

"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."

The US-based company has been pouring money into new shows to fight off increasingly tough competition from Disney’s new streaming channel Plus and new entrants such as Apple.

A Disney+ subscription costs £79,90 a year while the UK equivalent Britbox, which shows largely old shows produced by ITV and the BBC, is £5.99 a month.

Half of UK households reportedly have a Netflix subscription and this price hike will be a good test of how viewers rate the new content said experts.

Netflix said it spent around $1bn on shows and films in the UK last year including The Crown, its blockbuster hit about the Royal Family.

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