TV streaming services were the entertainment lifeline over the last two years of the coronavirus pandemic but with the cost of living going up, customers are now looking at where they can save money and wondering is Netflix raising its prices in the UK?
The digital streaming service, which airs popular shows like Tinder Swindler and Worst Roommate Ever, has some cracking shows coming up in 2022 including the return of Bridgerton with its second season.
Netflix prices were increased last year and now Netflix wants to “continue investing in best in class UK productions” but to do so it has to put up the cost of its subscriptions as we look at who will be affected…
Is Netflix raising its prices in the UK?
Netflix has announced it’s raising its prices in the UK for new and existing subscribers in UK and Ireland. In the UK, the basic and standard plans will both increase by £1 a month to £6.99 and £10.99 respectively, while the premium tier will go up by £2 to £15.99.
Existing subscribers will be notified by email 30 days before the price rise comes into effect – each customer will depend on their individual billing cycle.
A Netflix 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.”
How much does Netflix UK cost?
Netflix in the UK currently costs £5.99 for the basic plan, a standard plan costs £10.99, while a premium tier costs £13.99. But once the price rises come into effect, the subscriptions will go up by £1 and £2. with the basic and standard plans costing an extra £1 each, while the premium plan will go up by £2 costing £15.99.
Netflix recently suspended its services in Russia amid the conflict with Ukraine.
And in the UK some customers aren’t happy with the increase.
One tweeted, “That’s 12.5% increase! They’re just testing their price power, we shouldn’t encourage it. I’m definitely cancel it”
Another user wrote, “Netflix made $30 billion in 2021. They don’t need to be doing this.”
A third unhappy customer tweeted, “@NetflixUK just thought you’d like to know that your latest price rise was the final straw for me. You’ve overpriced yourselves. The cost of living is rising at a phenomenal pace and TV isn’t a necessity. I’ve cancelled. You were good but not that good 🙁 #netflix #netflixuk”
But another user disagreed with the increase being “major” and added, “A price increase isn’t great but its a bit much to call this “Major”. It’s €1.”