Netflix hikes subscription prices amid password crackdown success

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Netflix, the streaming giant, has decided to increase the prices on some of its subscriptions, and it seems that the strategy is paying off. This price hike comes after the company’s bold move earlier this year to crack down on password sharing.

Between July and September, Netflix witnessed a significant surge in its subscriber base, with nearly nine million households signing up worldwide. This rise marks the most substantial increase in subscribers since the onset of the pandemic in 2020. Furthermore, Netflix is forecasting another nine million subscribers by the end of this year, indicating a robust and growing demand for its services.

Let’s delve into the details of these subscription price hikes and how they might impact you.

Which Netflix Subscriptions Have Seen Price Increases?

The price increases affect the following Netflix subscriptions in the UK:

• Basic plan (only available to existing customers): The price has gone up from £6.99 to £7.99.
  
• Premium plan: For premium plan customers, this adds £24 annually to their bill, reflecting a 13% increase, with the new price rising from £15.99 to £17.99.

It’s worth noting that the UK is not alone in experiencing these price adjustments; the US and France will also witness similar price increases in their Netflix subscriptions. The price increase for new customers in the UK took effect on October 18th, while existing customers will receive email notifications regarding any changes in price over the next month. However, it remains unclear if this means existing customers will immediately pay the new price on their next billing date.

For customers with a standard plan, there will be no changes in pricing. They will continue to pay:

• £4.99 for the standard plan with advertisements.
  
• £10.99 for the standard plan without advertisements.

How to Save on Your Netflix Subscription

While the Netflix price hikes might not be well-received, there are alternative streaming options available to choose from. If you’re on a premium plan and considering a shift, here’s a comparison of subscription prices for similar services:

• Disney Plus and Apple TV Plus: These alternatives can often be more cost-effective. Additionally, check with your mobile provider or packaged bank account, as they may offer rewards such as free streaming subscriptions. For example, some providers offer a year of Disney Plus for free with specific bank accounts.
  
• Changing Your Subscription Plan: If you’re a devoted Netflix viewer but don’t want to give up your subscription, consider switching to a cheaper subscription plan. For instance, the standard plan (without ads) costs £7 less per month compared to the premium plan, providing a budget-friendly alternative for subscribers.