Netflix, The streaming video service has raised prices in countries including the UK and US for the first time in two years.A spokeswoman said that It will also increase subscription charges in some European countries.
A standard UK plan will rise 50p to £7.99 a month, while a premium subscription for four simultaneous users jumps £1 to £9.99 a month.The standard US plan increases by $1 to $10.99 a month, with a $2 rise to $13.99 for the premium option. A basic subscription in the UK, which does not offer high definition viewing, remains at £5.99 a month.
The increases apply immediately for new customers, while existing users will be notified of the change 30 days in advance. Netflix said in July it has 104 million subscribers globally, while revenues rose 32% in the second quarter to $2.8bn. The price rises come as Netflix faces growing competition from Amazon and other sites. The company also promises 40 feature films this year ranging from “big-budget popcorn films to grassroots independent cinema”
