Netflix has announced that it is raising its prices for customers in the UK and Ireland, who are now joining viewers around the world who are feeling the added pressure the streaming service is putting on their wallets with recent price increases. subscription costs. So why is this happening all over the world?
The entertainment giant's prices have risen around the world and now customers in the UK and Ireland will be affected. This is the second price increase for UK customers in recent months after the price increase in December. They were increased in Ireland in March 2021.
Netflix offers three subscription levels, Basic, Standard, and Premium, and they all go up in price.
How much will an additional Netflix subscription cost?
Netflix's cheapest option, the Basic plan, has dropped from €5,99 per month to €6,99 in the UK and from €7,99 to €8,99 per month in Ireland. The increase is the streamer's first base package increase in 10 years in the UK and the first base package increase in eight years in Ireland.
A standard ski pass, which allows telespectators to take care of their appearances simultaneously and in HD, costs €10,99 per month, only €1 augmentation, and €2 augmentation costs in Ireland for attention €14,99 per month.
Premium subscribers will be affected even more. They will now pay €15,99 in the UK and €20,99 in Ireland.
The price change is effective immediately for all new subscribers, while Netflix will notify existing members 30 days before it goes into effect.
This follows similar price increases in the United States earlier this year. In the US, Basic plan customers now pay €9.99 per month (was €8.99). The standard plan, which offers two simultaneous HD streams, now costs €15,49 per month, up from €13,99 previously. The top-tier Premium tier, which extends availability and quality to four screens simultaneously streaming 4K Ultra HD TV, has dropped from $17.99 to $19.99 per month.
What is behind the price increase?
Explaining their decision, a spokesperson for the streamer told Deadline: “We have always been focused on providing our members with quality and clear value for their membership. Our updated pricing reflects the investment we've made in our service and catalog and will allow us to continue to make the series, documentaries and movies our members love, as well as invest in talent and the creative industry. . We offer a variety of packages so members can choose the price that works best for them.
Why is Netflix increasing the price of your subscription?
A combination of factors. Netflix has very big plans.
As well as branching out into gaming, the streamer is also under pressure to offer more and more content. As broadcasters and studios increasingly pull their Netflix back catalogs and focus on their own in-house streaming services like Hulu and HBO Max, Netflix must make more and more movies and shows to keep subscribers.
While its initial content push was to build the service's credibility in industry circles, curate movies from auteur directors, and order premium TV series, the streaming market is becoming increasingly competitive, and Netflix has more and more than trying to find not just the next big thing, but potentially even a show that turns out to be a persistent hit. We may want to rewatch The Office or Friends, but Netflix doesn't own that content and therefore has to pay for it to keep those eyes on its app. The search for content that appeals across generations and cross-genres continues, while investment in games makes Netflix realize that it needs to diversify its revenue streams if it wants to remain commercially competitive.
All this costs money and, unfortunately, we are the ones who will have to foot the bill...