Netflix is the top most loved streaming service in the world, and maybe, this is the reason that it has decided to raise prices for its monthly streaming plans. According to a report from The Guardian, the company has announced that it is going to increase the subscription fees for its UK users. Earlier, in January, the company had even raised the prices for its US subscribers.
Currently, Netflix has got three different plans for its subscribers, including the £5.99 per month plan applicable only for a single screen, £7.99 per month HD plan to stream on two devices at a time and the £9.99 a month Ultra HD plan available to stream on four devices at a time.
According to the report, the basic plan, applicable for a single screen will remain the same, whether the company will hike the price for both the HD and Ultra HD, i.e. for the two screens and the four screen plan. After the change in the price, the HD plan with a rise of £1 will cost £8.99 per month, and the price of Ultra HD will be increased by £2, i.e. £11.99 per month.
After the US, Netflix has raised the prices for the UK, giving the reason that it is working on new projects to bring original content to the platform. The company is also pushing hard to get the license for the popular shows to be streamed on Netflix, including Friend. Noticeably, Netflix is already streaming Friends on the platform under a $100 million deal, which will be over by the end of 2019.
Amid the risen competition from the contemporaries like Disney, Amazon, BBC, and the other emerging streaming services, Netflix is well aware of the steps that it needs to take in order to stay ahead of the competition.
The company has already invested hundreds of millions of pounds into UK content, so by raising the price, it is only trying to get a stable position in the market and bring more good content to the platform. The price rise has already come into effect, as the old subscribers will be charged with the new prices on the renewal of their plans, and the new users will need to pay the new subscription fee for joining the plans.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.