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Netflix increases prices for 2 tiers in UK

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Netflix increases prices for 2 tiers in UK

Netflix Inc. has raised prices for two of its subscription tiers offered in the U.K., London's The Guardian reported May 30.

A premium Netflix subscription, which offers viewing on up to four screens and an Ultra HD option, will increase to £11.99 monthly from £9.99. The standard tariff with two streams and HD viewing will cost £8.99 per month, up from £7.99. The basic tier, which allows one stream at a time, will remain at its monthly rate of £5.99.

The new rates will immediately apply to new Netflix users, while existing subscribers will notice the increases "over the coming weeks," according to the report. Netflix has not raised prices in Britain since 2017.

Netflix seeks to drive revenues from its customers to fund its investments in original content, ahead of the November launch of Walt Disney Co.'s streaming service Disney+, which will cost $6.99 monthly, according to The Guardian.

Meanwhile, Netflix has no immediate plans to increase rates for its subscribers in Ireland, Dublin's The Irish Times reported.

The company has reportedly been testing a new price of about €18 per month for its premium offer in Italy. It earlier increased its rates for new U.S. customers in January.