Netflix increases subscription price in the UK market
MUMBAI: Netflix is increasing the monthly subscription price for its UK customers. The monthly subscription rate for its standard plans has been increased by 12.5% to £8.99. Te Premium plan, which provides up to four Ultra HD streams, is increasing 20% to £11.99.
However, Netflix’s Basic plan, which provides standard-definition streaming on one device, remains unchanged at £5.99.
The new prices take effect immediately for new subscribers in the United Kingdom and will roll out to existing users in the coming weeks, Netflix said Thursday.
Existing members will be notified by email, as well as within the Netflix app a month before the new prices are applied to them.
“We change our prices from time to time to reflect the significant investments we’ve made in new TV shows and films, as well as improvements to our product,” a company official said in a statement to Variety.
In the first quarter of this year, Netflix had raised the price for all customers in the U.S. The standard plan rose from $10.99 to $12.99 per month. The premium plan increased from $13.99 to $15.99 per month. The Basic plan increased for the first time, from $7.99 to $8.99 per month.