Netflix to raise prices in US

By Nathaniel Dalby - Wed 16th Jan 2019 News

Prices to stay the same in the UK.

Netflix has set out plans to raise its prices in the US. 

The streaming giant boasts over 100 million subscribers worldwide and has claimed that it will raise its prices in the US from $10.99 to $12.99 per month. 

Since Netflix has a number of plans to choose from, this price increase will differ depending on which one you’re on. 

As well as the US, the price increases will take place in countries like Uruguay, Barbados and Belize, where they pay for the service in US dollars. 

There is currently no plans to raise the price in the UK, with the streaming service claiming that it will do it incrementally over time.

"We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members."

Netflix has had a huge surge of original content over the last few years, with originals now making up the majority of its library. 

Price increases are its way of covering the costs of increasingly expensive projects, which include both TV shows and movies.

The service is also facing huge competition in the US specifically, with Disney planning its own streaming service alongside companies like CBS and DC Comics. 

Shares in Netflix jumped by 5% on the announcement of the price rise, with shareholders presumably thrilled at the concept of more money. 

Source: BBC News