Netflix said today that it is once again increasing subscription prices for its U.K. and Ireland customers. Netflix previously hiked prices for these regions in January 2021.
In the U.K., Netflix’s Standard plan will go up to $14.42(£10.99) per month, an increase of one pound. Netflix’s Basic plan, which had been left unchanged in the last price hike, is also increasing by one pound to $9.17(£6.99) per month.
The Premium plan, supporting Ultra HD and four simultaneous streaming devices, will go up by two pounds to $20.98(£15.99) per month.
Similarly in Ireland, the Basic and Standard plans will increase by one and two Euros respectively, to $9.89(€8.99) per month and $16.50(€14.99) per month. The Premium tier will go up by three Euros to $23.09(€20.99) per month.
"We offer a range of plans so members can choose a price that works best for them,” a Netflix spokesperson told Sky News. "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.”
The move coincides with Netflix’s latest price increases in North America, which were announced in January. In the U.S. and Canada, the new price hikes apply to all new subscribers, with Netflix gradually rolling out price changes to existing members.
The recent price hikes may be a result of Netflix’s resistance to introduce ads on its platform. At a Morgan Stanley investor conference on Tuesday, Netflix CFO Spencer Neumann said the company wants to optimize for revenue “in a way that is a great experience for our members.”
In Netflix’s last earnings call in January, Netflix COO Greg Peters said the streaming service hasn’t seen any “significant disruption” from raising subscription fees, instead allowing Netflix to enhance the variety of available content.
“When we come back and ask [customers] occasionally for a little bit more to keep that sort of cycle going, then they're generally willing to do that,” Peters said.