Why your Netflix subscription could be upped by £24 next month and how to avoid it

A Netflix subscription is a monthly outgoing for millions of TV and film lovers around the world - and with lockdown part three underway, we're likely watching more than ever in the UK.

Sadly, the Netflix number on our bank statements is going to be a little larger from next month, thanks to new price hikes from the streaming service.

Has Netflix gone up in price?

From February and over the following months, the price of a premium Netflix subscription is going to rocket from £11.99 to £13.99 a month, working out as an extra £24 a year. Not good news if you're trying to save money.

Meanwhile, the standard plan price will increase to £9.99 a month from £8.99, adding an extra £12 to your outgoings every year.

The standard plan lets you watch Netflix in high definition on up to two devices at once, and download shows too.

The top price premium plan allows users to watch the streaming site in ultra high definition on up to four devices at once, and make downloads to four phones and tablets - a must-have option for big families.

Luckily, if you pay for the basic price plan at £5.99 a month, there won't be any changes to your monthly payment.

How to pay less for Netflix

If you're a standard or premium user and aren't keen on the idea of paying an extra few quid for Netflix, there are a few things you can do to make sure you're not shelling out more than you need to.

Firstly, check if you really need to be on the premium or standard plan, if you don't need to be able to stream on multiple devices at once, switch to the plan below to save some coins.

Alternatively, think about pausing your account - if you're not using it much right now because there's no shows or films taking your fancy, simply cancel it and rejoin at a later date so that you only pay for the months you're getting your money's worth.

Another money-saving option for pals who share a love of movies and binge-worthy TV series is to pay for one subscription between you and split the monthly charge.

The standard plan priced at £9.99 a month divided between two mates is a bargain way to get your 'Flix fix!