Netflix has been hitting its US subscribers with price increases to its plans, and now, it looks like those prices are finally going to be reflected within the UK, too.
The increase prices are being rolled out fairly quickly. For new subscribers, it will be put in place immediately. For existing subscribers, the increased prices will hit on the next billing cycle.
That said, Netflix’s most basic plans in the UK will stay at £5.99 per month, but its HD Streaming Plan and Premium Plan will be increased to £8.99 and £11.99, respectively.
Netflix cited a number of reasons for the price increase, but will obviously benefit things like Netflix original content, as well as contracts from big players like Disney to play content on Netflix.
The streaming giant also has a staggering amount of debt that investors are worried about Netflix holding, so increased costs could be used to pay that down, or to create revenue that could help pay that down.
Netflix will obviously have to tread carefully, though. Stiff competition is on the move, such as with the Disney+ streaming platform launching later this year.
source: The Guardian