The video streaming giant, Netflix, has decided to raise its prices for the United Kingdom and Ireland for the second time within 18 months as the company aims to invest more in the production of new shows and films.
Depending on the plans of the user, prices will increase by at least 1 to 3 pounds. The new payment plan is already applicable as of 10th March for new subscribers, while existing customers will receive an email with a 30-day notice before their next billing cycle.
In January, the streaming giant announced a hike in prices in the United States and Canada.
A Netflix spokesperson commented:
We have always been focused on providing our members with both quality and clear value for their membership. Our updated prices reflect the investment we have made in our service and catalog and will allow us to continue making the series, documentaries, and films our members love as well as investing in talent and the creative industry. We offer a range of plans so members can choose a price that works best for them.
Given the ever-increasing spike in prices by Netflix, the streaming giant has become one of the most expensive services, especially in the US. The latest pricing strategy is in line with the company’s plans for growth, given its long list of upcoming shows and movies.
