Netflix is raising prices for all its streaming plans in the UK and Ireland for the second time in less than 18 months. Prices will rise by 1 to 3 euros or pounds, depending on the plan. The new prices are in effect immediately for new subscribers, while existing subscribers will have 30 days notice by email before their next billing cycle.
For the UK, Netflix will hike prices by £1 a month to £11 for the standard plan, £1 a month to £7 for the basic plan, and £2 a month to £16 for the premium plan. Similarly, prices will rise in Ireland by 2 euros a month to 15 euros for the standard plan, 1 euro a month to 9 euros for the basic plan, and 3 euros a month to 21 euros for the premium plan.
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The price increases in the UK and Ireland follow one announced in the US and Canada in January. If it seems like Netflix keeps upping prices, it’s not your imagination. The company also has been introducing price hikes at a faster clip than in previous years. The increases are a lever for growth that the company is pulling more often lately, as it faces the reality that — especially in markets like the US and the UK, two of the earliest places Netflix operated — there simply aren’t a lot of people left to become new subscribers.
Amid intensifying competition among streaming services, some have serious questions about whether the company can keep raising prices. Netflix is now one of the most expensive services of its kind. at least in the US. But Netflix has a fatter pipeline of new shows and movies than any of its rivals, and the company argues that while it’s asking people to pay more, they’re getting more too.
“We have always been focused on providing our members both quality and clear value for their membership,” said a Netflix spokesperson. “Our updated prices reflect the investment we have made in our service and catalog, 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.”