![]() The latest rise means the most expensive Netflix tier costs almost double the £8.99 it did when first introduced. "We offer a range of plans so members can choose a price that works best for them." "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 have always been focused on providing our members both quality and clear value for their membership,” Netflix said. It is the first time the company has raised the price of its cheapest tier, which allows users to watch on just one screen at a time, since launching in the UK in 2012. Netflix has repeatedly raised prices in recent years, saying it will allow it to invest in new content, including in the UK where it has a major production operation. Sky said last month it would increase TV, broadband and mobile bills. The rise comes as households grapple with rising inflation due to higher energy prices and supply shortages. The premium tier, which lets users watch on up to four devices at once and in ultra high-definition, will rise by £2 to £15.99 a month. The streaming giant said prices for its basic and standard plans would rise by £1 a month, to £6.99 and £10.99 respectively. Existing subscribers will see the price hikes on their bills in the coming weeks.Netflix has raised prices for the second time in just over a year, taking the price of its most expensive subscription to almost £16 a month. These new prices will apply to new subscriptions starting today. Premium (with 4K streaming): €19.99 per month (up from €17.99).Basic (still available in France for now): €10.99 per month (up from €8.99).Standard with ads: €5.99 per month (no change).Premium (with 4K streaming): £17.99 per month (up from £15.99).Basic (no longer available): £7.99 per month (up from £6.99).Standard with ads: £4.99 per month (no change).Premium (with 4K streaming): $22.99 per month (up from $19.99).Basic (no longer available): $11.99 per month (up from $9.99).Standard with ads: $6.99 per month (no change).But subscribers aren’t going to be happy, as it means that the company is going to raise its prices for some of its plans once again in three key markets. This is good news for shareholders, which is why Netflix shares are currently up 13.75% in pre-market trading ($393.79 per share). Nearly a third of new subscribers start with an ads plan. Ads are increasingly contributing to the bottom line as the number of subscribers on the ads plan is up almost 70% quarter-over-quarter. When it comes to revenue, Netflix reported $8.5 billion this quarter, with earnings of $3.73 per share. Netflix hasn’t seen that kind of growth in subscribers since Q2 of 2020, also known as the quarter of strict COVID lockdowns around the world. And that number jumped by 8.76 million subscribers this quarter alone. The company now has 247.15 million subscribers. While reports suggest that many customers are facing subscription fatigue and are thinking about canceling some streaming subscriptions, it seems like Netflix still has a lot of room for growth - especially with advertising revenue. People now have to pay quite a bit of money to remove ads from Netflix. The company also streamlined its offering a couple of months ago by removing the basic tier in the U.S. In other words, we’re now seeing a clear picture of the effect of password sharing as the third quarter is the first full quarter under the new rules. In May, Netflix began its crackdown on password sharing in its home market and in dozens of global markets. For instance, the most expensive plan will now cost $22.99 per month for new subscribers.īut let’s rewind first and look at Netflix’s current situation. and France to differentiate ad-free plans from its entry-level ad supported plan. The company added nearly 9 million subscribers globally, which means that revenue is up.Īnd yet, it also means that Netflix is using this opportunity to raise the prices of some of its plans in the U.S., the U.K. Netflix reported its third-quarter earnings and things are going great right now for the streaming giant.
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