Netflix has jacked up its UK prices, with a 30%+ hike on its entry level plan, and Premium tier heading over £20 a month for the first time.
A fresh batch of price rises have been introduced by Netflix in the UK, with every tied of the streaming giant’s subscription services affected by the changes.
The biggest jump, in percentage terms at least, is for the cheapest service that the company offers. The entry-level ad-supported tier for Netflix was costing £5.99 a month. That’s now jumped by over 30% to £7.99 instead.
The standard ad-free subscription package meanwhile is now £13.99 a month, a £1 increase. But for those on the Premium service, which is the only one that includes 4K and HDR, along with downloads to up to six devices, the cost has gone above £20 a month for the first time. It now sets at £20.99, a £2 jump on the asking price.
Netflix is banking on the fact that most of us won’t notice and will be able to absorb the rises. It gives the usual drill justification, in a statement that argues “Our approach remains the same: we continue offering a range of prices and plans to meet a variety of needs, and as we deliver more value to our members, we reinvest in quality entertainment and improve their experience by updating our prices.”
Obviously at no point does it overtly declare ‘we’re jacking up prices’, instead offering “we know members have never had more choices in entertainment, and we’re committed to delivering an experience that meets and exceeds their expectations.”
Therein to a degree lies the problem that all streaming services are facing: eventually, we – the customers – run out of money. Every streaming service has put up their prices again this year, partly due to natural costs going in, partly to fund the assorted films and shows on their services as competition gets more intense.
The price rises affect new and old customers this time, and have taken effect. Whether they impact Netflix’s subscriber rates in any way remains to be seen, but with 18 million or so of us taking the company’s services in the UK, it’s unlikely to do much harm to its bottom line.
