Business

Netflix ups prices on most popular plan

Netflix ups prices on most popular plan

Netflix the online TV and film streaming service have raised their prices for its service in the United Kingdom and the USA for the first time in two years. That represents a 10 percent increase.

"This timing coincides with what we expect will be a strong fourth quarter of 2017 content slate, which could help minimize churn", Doug Mitchelson, an analyst at UBS, said in a note to clients.

As Mashable points out, despite the increase, Netflix remains one of the most economic streaming services on the market.

The cost of its "basic" plan will remain the same at £5.99/mth, but users will have to pay more for Netflix's "standard" or "premium" memberships.

Netflix is going to make two pricing tiers for USA subscribers more expensive starting next month. The spokesperson added that Netflix would begin to notify members of the change on October 19. The lower-tier plan, which allows for only SD streaming, stays where it is at $7.99 per month.

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You'll find the screen above with three different subscription options.

When Catchplay launched its service in Singapore in August, it's chief executive officer Daphne Yang said while Netflix is "very strong" in terms of its originally produced content, her platform offered a "stronger" movie line up and newer titles. Current subscribers won't see the price hike for several weeks, and Netflix will alert existing customers before implementing the increase.

Are you surprised that Netflix increased the price of the streaming service?

Netflix prices are going up in the United States and overseas. "I don't think we'll see an immediate impact (on Netflix subscriber numbers), but this could affect subscriber growth in the first or second quarters (next year) for Netflix".

The service last raised their monthly prices two years ago in 2015, which caused just as much of a stir amidst subscribers. That's not where the price increase ends, though.


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