Netflix hikes subscription prices in the UK as it splurges on new content

Netflix shows, including Bridgerton, have attracted huge numbers of users over the past year

Credit: Netflix

Netflix users face a price hike of up to £2 per month from February after the streaming site said it needed to offset the its huge investment into new TV shows and films.

Those opting for Netflix’s standard monthly package will face a £1 monthly price increase from £8.99 to £9.99, whilst those choosing its premium plan, where they can watch content from four devices and stream in Ultra HD (4K), will be paying £13.99 every month, compared to £11.99 previously.

Netflix said it the rise reflected the "significant investments we’ve made in new TV shows and films, as well as improvements to our product".

A spokesman said: "This year we’re spending over $1bn (£736m) in the UK on new, locally-made films, series and documentaries, helping to create thousands of jobs and showcasing British storytelling at its best — with everything from The Crown, to Sex Education and Top Boy, plus many, many more."

However, experts branded it an "unwanted extra expense for households feeling the financial pressure" on Wednesday.

Nick Baker, streaming and TV expert at Uswitch.com, said: "Netflix has been a lifeline for many people during lockdown.

"It’s unfortunate timing that this price hike coincides with another national lockdown, when all of us will be streaming more television and films than ever. During the first lockdown, the amount of streaming content watched by consumers rose a third on the previous year, and our viewing habits are likely to increase similarly this time."

Netflix, in particular, saw user numbers swell during the pandemic, with a total of 26 million people having signed up to its site in six months to the end of June last year, almost as many subscribers had signed up to the site in the whole of 2019.

Since then, however, the company has experienced a slow-down in user growth, with Netflix revealing that just 2.2 million new subscribers signed up for the site in the three months to the end of September, below even the company’s own conservative estimates.

Experts say this is because many of those who would sign up for the site had already done so earlier in the pandemic.

Netflix said the price of its basic membership, where users can stream from one device and do not have access to HD content, was remaining the same in the UK, "ensuring as many people as possible can enjoy our content".

Existing users will be notified of the increased subscription cost over email and will be receive a reminder over the site.