Netflix price rise explained: How much subscriptions are going up, when the increase is and why it’s happening – Uber Turco News

Streaming giant Netflix is increasing its subscription price for the second time in 18 months after the company reported a loss of 200,000 subscribers post-lockdown.

It’s thought that the company is doing its best to crackdown on free-loaders watching on friends’ and family’s accounts – a bold move for a company that has historically prided itself on a give-no-cause-to-offend approach.

The change comes as the platform plans to also introduce adverts for cheaper subscriptions, allowing a more affordable option – and encouraging what CEO Reed Hastings calls “consumer choice”.

How much are Netflix subscriptions increasing by?

In the new price increase, basic and standard Netflix subscription plans will go up by £1 per month to £6.99 and £10.99.

Premium subscriptions will be increasing a little bit more from £13.99 to £15.99.

This is the first time the basic package has gone up in price in 10 years.

In Ireland, the basic plan will increase by one euro and two euro for the Standard and Premium tiers, respectively.

The site has around 14 million UK subscribers and 600,000 in Ireland, according to Ampere Analysis.

The increase was expected after rates in America went up in January.

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When is the price rise happening?

As of Friday 20 May, all Netflix subscriptions will go up in price.

This change will come into affect immediately for new subscribers, whereas those with accounts already will have a 30 day grace period.

Why are Netflix subscriptions going up?

The streaming giant 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.

Confirming the news in April, 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.”

The UK is Netflix’s biggest production hub outside the US and Canada, with a one billion dollar UK production budget in 2020.

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