Netflix has increased its monthly subscription costs for viewers in the UK
The cost of your Netflix subscription is about to go up.
Netflix has said it will increase subscription costs for viewers in the UK, as the streaming giant looks to 'cover the cost of content'. The charges will come into effect from next month.
A statement from the company confirmed the price rise, describing it as necessary considering the cost of producing an increasing volume of original content.
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."
Streaming platforms have seen their subscriber base grow immensely since the onset of the coronavirus pandemic.
Netflix in particular witnessed almost 16 million new customers join their platform in the first three months of 2020. That number will have undoubtedly increased even further as a result of further national lockdowns implemented by the government.
How much will a subscription cost under the new arrangement?
- A standard monthly subscription will increase from £8.99 to £9.99
- The premium package jumps from £11.99 to £13.99
- The basic plan remains £5.99 per month, however
What is the difference between a basic, standard and premium Netflix package?
- Netflix's basic package (£5.99) allows you to watch unlimited movies and TV shows, but only on one device
- A standard subscription (£9.99) comes with HD and the chance to watch films and shows on two separate devices
- The premium package (£13.99) provides you with Ultra HD viewing, and you're able to watch your favourites on up to four connected devices