Netflix has increased subscription prices for users in select markets across Europe, Asia and Africa. The price increase varies by country, with some countries seeing an increase of up to 20%. In the UK, the standard plan has increased from £9.99 to £11.49 per month, while the premium plan has gone up from £13.99 to £15.99. In France, the standard plan has increased from €11.99 to €13.99, while the premium plan has gone up from €15.99 to €17.99.
The price increase comes as Netflix is investing heavily in original content, including movies and TV shows, to compete with other streaming services like Disney+, Amazon Prime Video, and Apple TV+. The company has also been expanding its reach globally, with a particular focus on Asia, where it faces competition from local streaming services like iQiyi and Tencent Video.
In a statement, a Netflix spokesperson said, “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members. We’re updating our prices so that we can continue to invest in more shows and films as well as improve the overall Netflix experience for our members.”
While some users may be unhappy with the price increase, Netflix has maintained a strong subscriber base throughout the pandemic, with many people turning to the streaming service for entertainment while stuck at home. The company reported 222 million global subscribers in Q4 2022, up from 204 million in the same quarter in 2021.