Netflix announces price increase after crackdown on password sharing
The basic and premium plans are affected by the hike, but the ad-supported and standard options remain the same.
Thousands of Netflix subscribers are facing an increase in monthly fees after the streamer announced it was raising some of its prices.
Although the ad-supported and standard plans will not be affected by the hike – remaining at £4.99 and £10.99 respectively in the UK – the cost of the other two available plans is increasing.
A basic subscription, which allows subscribers to watch on one device at a time in standard definition, will now cost £7.99 a month compared to the previous price of £6.99.
Meanwhile, there is an even sharper rise for the premium subscription, which allows viewers to watch in Ultra HD on four devices at a time, which is increasing from £15.99 a month to £17.99 a month.
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The rise was revealed in the company's third-quarter shareholder letter, with a statement reading: "While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more."
It is the latest move taken by the company to increase its revenue after it also announced plans to crack down on password sharing.
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After announcing in February that "a Netflix account is intended for one household", the streamer has begun to roll out more stringent measures in the UK that include asking users to set up a "primary location" for their account with the option of adding "paid sharers".
Speaking about the effect of this scheme on subscriber numbers, the aforementioned shareholder letter read: "The cancel reaction continues to be low, exceeding our expectations, and borrower households converting into full-paying memberships are demonstrating healthy retention.
"As a result, we’re revenue-positive in every region when accounting for additional spinoff accounts and extra members, churn and changes to our plan mix."
You can sign up for Netflix from £4.99 a month. Netflix is also available on Sky Glass and Virgin Media Stream.
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Authors
Patrick Cremona is the Senior Film Writer at Radio Times, and looks after all the latest film releases both in cinemas and on streaming. He has been with the website since October 2019, and in that time has interviewed a host of big name stars and reviewed a diverse range of movies.
