Netflix is raising prices for new and existing subscribers in the UK. The premium plan with 4K HDR and Dolby Atmos will increase by Ł2 to Ł12, according to a report by The Guardian.
Netflix UK price increases
Prices will be raised to help finance investments in new original content, the company said. The higher prices will be effective immediately for new users, while existing users will be given a notice.
- "We change our prices from time to time to reflect the significant investments we’ve made in new TV shows and films, as well as improvements to our product, a Netflix spokesperson told The Guardian. "We have more than 50 productions planned in the UK this year, including new seasons of Black Mirror, Sex Education and After Life. Our basic membership will remain at the same price, ensuring as many people as possible can enjoy our content."
The basic plan (with SD resolution) will remain unchanged at Ł6 but the standard and premium plans will increase by Ł1 and Ł2 to Ł9 and Ł12, respectively. The premium plan is required to enjoy video streaming in 4K HDR picture quality and Dolby Atmos audio.
Netflix's last price increase in the UK was in 2017.
In early 2019, Netflix announced that it would increase prices in the US. Existing users got a 3-month notice until May 2019. The company adjusts prices on a region-by-region basis.
The price increases come as Apple, Disney, and WarnerMedia are gearing up to enter the video streaming market. Disney and WarnerMedia are expected to pull their content from Netflix so the company is upping its investments in original content.