Netflix has confirmed a price increase of up to £24 a year for its streaming services in the UK, with the new pricing to begin immediately for new customers.
Existing subscribers will be given at least thirty days’ notice before the new charges apply.
New Netflix charges:
- Basic Plan – An increase of £1 per month to £6.99
- Standard Plan – An increase of £1 per month to £10.99
- Premium Plan – An increase of £2 per month to £15.99
Netflix has confirmed the increase will allow it to “continue investing in best in class UK productions” and “offer a wide variety of curated quality shows and films” to its subscribers.
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.”
Netflix is not the only entertainment company to announce price increases. Sky subscribers will have to fork out up to £43 extra annually, with Disney+ viewer’s subscription prices rising by almost £20 a year.
If you’re not happy with the price increase, you might consider cancelling your Netflix service.
Abigail Yearley from TopCashback said consumers should review their monthly subscriptions to save money: “We would recommend consumers be extra diligent when they sign up for subscriptions or memberships. It’s easy to get lured in by free trials, and then continue to pay for services they aren’t getting use out of.
“Even though costs for individual subscriptions might not sound like much each month, it all adds up in the long run. If you need to make some cuts to your outgoings, we would urge you to cull subscriptions you can do without.”
Customers who choose to end their contract or downgrade to a cheaper package can do so on the Netflix website by logging into their account.