Netflix is hiking its prices
Netflix has announced that it will be raising prices in countries including the US and the UK for the first time in two years. In a statement, the streaming video provider said subscription charges will also be increased in certain European countries. Starting in November, the standard US plan with HD on two simultaneous devices will rise by USD 1 to USD 10.99 a month, while the premium tier with 4K-UHD rises by USD 2 to USD 13.99. The standard UK subscription will rise by GBP 0.50 to GBP 7.99 a month with a premium plan for four simultaneous users rising by GBP 1 to GBP 9.99 a month. France and Germany will also see prices rise in euros at the same rate as the US.
Netflix will begin notifying existing users about the new prices starting on 19 October, giving them 30 days to accept the new rates, switch to a cheaper plan or cancel the service. “From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster,” said the company in a statement to Mashable.
Netflix announced earlier this year that its revenues rose 32 percent in the second quarter to USD 2.8 billion while global subscribers soared to a total 104 million at the end of June.