Business
Netflix raises UK prices to cover cost of content
January 7, 2021 10:16 am
Shows like Tiger King kept people entertained during the first UK lockdown [Source: BBC]
Netflix is raising the cost of some of its UK subscriptions from next month, its customers have been told.
The streaming service said the price rises reflected money spent on content.
Its standard monthly package will go up from £8.99 to £9.99 and its premium one will rise from £11.99 to £13.99, but its basic plan remains at £5.99.
However, comparison site Uswitch said the timing of the price rises was unfortunate with UK citizens living under new national lockdowns.
The streaming service’s subscriber numbers have jumped during the pandemic, with almost 16 million new customers added worldwide in the first three months of 2020 alone.
In the UK, during the first national lockdown which started in March 2020, the amount of streaming content watched by consumers rose by a third compared with the previous year.
But Netflix faces tough competition from rivals, such as Disney+, which has also announced price rises of £2 per month up to £7.99 or £79.90 for a full year.
Netflix said: “This year we’re spending over $1bn [£736m] in the UK on new, locally-made films, series and documentaries, helping to create thousands of jobs and showcasing British storytelling at its best – with everything from The Crown, to Sex Education and Top Boy, plus many, many more.
“Our price change reflects the significant investments we’ve made in new TV shows and films, as well as improvements to our product.”
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