Netflix issues price update amidst yet another cost hike
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Netflix News

Netflix issues price update amidst yet another cost hike

After raising prices in the United States and Canada, Netflix increased its subscription plans price in UK and Ireland as well.  Now, the streamer has issued an email to the users saying the same. 

May 12th onwards, the basic package will be increased by £1 to £6.99 while the standard package will be raised by £1 to £10.99 in the United Kingdom. The premium subscription that allows UHD streaming and downloads has gone up from £2 to £15.99.

Netflix has sent an email that justifies the price hike by saying that it will “allow us to deliver even more value for your membership- with stories that lift you up, move you or simply make your day better.”

Netflix has further added, “As we continue to add more TV shows and movies and introduce new product features, our plans and prices may change. We also may adjust plans and pricing to respond to local market changes, such as changes to local taxes or inflation. When we change plans or prices, we’re always working to improve the Netflix experience and invest in quality content for our subscribers around the world.”

The inflation rate will rise to an expected 7% in the UK in 2022 which will affect the cost of living and other expenses. The price hike seems to result from the same anticipation. 

While the streamer has decreased prices in India to reach a broader demographic, Netflix has supposedly reached peak subscription in the Uk and is trying to counter the same.
Netflix UK is home to popular fan favourite series like Bridgerton, Sex Education, The Crown etc.