Even though the streamer reported after record-breaking earnings and an influx of 19 million new subscribers Netflix prices are still going up
Netflix UK subscribers are bracing for a price increase as the streaming giant hikes fees across multiple tiers. UK viewers can expect to pay an additional £2 per month for the Standard tier, now costing £12.99, while the Premium plan goes up by £1 to £18.99 monthly.
The Basic tier, which includes adverts, also sees a rise by £1, now priced at £5.99. A spokesman from Netflix stated, “As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can reinvest to further improve Netflix.”
Moreover, the prices for having an extra account outside your household will increase from £4.99 to £5.99, with advert-inclusive viewing jumping from £3.99 to £4.99.
Following a previous hike in October 2023, this adjustment comes as Netflix announced it would raise prices in the US and other nations after record-breaking earnings and an influx of 19 million new subscribers. Having featured the high-profile Jake Paul vs Mike Tyson boxing match, which Netflix claimed became history’s most-streamed sporting event, the company has now chosen to elevate prices in various locations including the US, Canada, Portugal, and Argentina.
Stateside, the ad-supported plan rose by one dollar to $7.99 (£6.46). The US-based streaming giant reported a significant surge in revenues, reaching 39 billion US dollars (£31.5 billion) in 2024, up from 33.7 billion US dollars (£27.3 billion) the previous year. Its operating income also skyrocketed to a record high of 10.4 billion dollars (£8.4 billion), a substantial increase from seven billion dollars (£5.7 billion) in 2023.
By the end of the year, Netflix had surpassed 300 million global subscribers, gaining around 19 million in the final quarter alone. The platform’s success was largely driven by popular series such as Bridgerton and Fool Me Once, which helped offset a slow start to the year due to US actor and writers’ strikes.
Non-English language shows like Squid Game and Society Of The Snow, as well as US crime drama Monsters: The Lyle And Erik Menendez Story, also resonated with subscribers. Furthermore, Netflix’s live-programming roster, including NFL games and the Fifa Women’s World Cup, was attracting viewers.
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Investment analyst Dan Coatsworth at AJ Bell noted, “Netflix has proved its success is not waning – it is going from strength to strength and continues to be king of the streaming platforms. It’s not a surprise that Netflix feels comfortable in raising prices. Customers love its content, so strike while the iron is hot and get them to pay more.”
“Netflix has been spreading its wings to offer more diversified content. Sports and games now comfortably sit alongside films and TV shows, making Netflix a broader entertainment hub. It means there is something for everyone and the company clearly feels this is worth a higher monthly subscription price.”
Source: Celebrities - dailystar.co.uk
