Netflix customers across the UK face paying more to use the streaming service from this month as it hikes prices across all of its plans.
The increases came into effect for new customers on February 6 while existing members have been given 30 days’ notice of the changes by email.
For customers on Netflix’s standard tier subscription, which allows you to watch content ad-free, the monthly price has gone up by £2 per month to £12.99.
While this doesn’t sound like much it will add an extra £24 to bills per year, meaning subscribers on this tier will now be paying £156 over a 12 month period.
This tier has also seen the biggest price hike of all Netflix’s plans, with the ‘standard with adverts’ and ‘premium’ tiers only increasing by £1 each by comparison.
Those on the cheapest tier with adverts will now pay £5.99 per month – a £12 per year increase and a total 12 month cost of £72 – and those on the most expensive tier will now pay £18.99 per month – also a £12 per year increase taking the total 12 month cost to £228.
Netflix customers should also note that the cost of adding additional members to plans has also increased by £1 across all subscriptions.
A Netflix spokesperson said the latest price hikes would allow it to “continue to invest in programming and deliver more value for our members”.
It comes less than a month after the company increased its subscription costs across most of its plans in the US, Canada, Portugal and Argentina.
In the US, the cheapest monthly plan with adverts has gone up by one US dollar from $6.99 to $7.99 per month (£6.46), while its standard subscription with no adverts now costs $17.99 (£14.60) per month, up from $15.49.
The price of its premium plan, which includes no adverts and Ultra HD, increased to $22.99 (£18.66) per month, up from $20.99, reflecting price hikes of $1, $2.50 and $2 respectively over the three plans.
Commenting on the price hikes, Netflix said: “We will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix.”
Netflix ended 2024 with more than 300 million global subscribers after gaining around 19 million in the final three months of the year, with series like Bridgerton and Fool Me Once helping to attract new customers.
The California-based business made 39 billion US dollars (£31.5 billion) in revenues over 2024 – up from 33.7 billion US dollars (£27.3 billion) in 2023 – and its operating income soared to 10.4 billion dollars (£8.4 billion) – up from seven billion dollars (£5.7 billion) the year before – reaching a record high.
Dan Coatsworth, investment analyst at AJ Bell, said: “Netflix has proved its success is not waning – it is going from strength to strength and continues to be king of the streaming platforms.
“It’s not a surprise that Netflix feels comfortable in raising prices. Customers love its content, so strike while the iron is hot and get them to pay more.
“Netflix has been spreading its wings to offer more diversified content. Sports and games now comfortably sit alongside films and TV shows, making Netflix a broader entertainment hub. It means there is something for everyone and the company clearly feels this is worth a higher monthly subscription price.”
