We’ve got some bad news. Netflix is going to become more expensive, again.
The company sent out an email to all its users informing them of the price hike that will take place across the two premium tiers that offers.
Basic users will still only be charged £6 per month but Standard users will see their monthly price go up from £7.50 to £8. If you’re on Netflix’s Premium plan you’re going to see the bill go from £9 per month to £10.
It’s a small increase but over the year these do add up, bringing the annual cost of Netflix’s Premium plan up to £120 from £108.
Finally, we’ve got some more bad news. This isn’t the first time Netflix has increased its prices and it certainly won’t be the last.
Back in 2015 its CEO Reed Hastings announced that Netflix would start to slowly increase subscription costs over the next decade as the company grew.
Speaking to the Independent Hastings said: “We want to take it very slow, over the next decade I think we’ll be able to add more content and have more value and then price that appropriately.”
It’s no surprise that Netflix’s costs have gone up. Big budget shows like Stranger Things, House of Cards and Orange is the New Black have all started to add up and if Netflix wants to keep offering that level of premium content it’s going to need to find a way of paying for it.
While it’s not a major increase in price, it’s the regularity of these increases that will start to make a difference. If Netflix ups its price by £1 every 6-12 months then it might start seeing something of a backlash.
In case you’re wondering what each plan gets you here’s the latest list:
- 720p Streaming quality
- 1 screen can be watched at a time
- HD Streaming quality
- 2 screens can be watched at the same time
- Ultra-HD/4K streaming quality
- 4 screens can be watched at the same time