Video streaming site Netflix has announced a price hike in the UK and US and a handful of other regions. The move will inflate all subscription fees except the lowest tier which will remain at £6.
The 'standard' tier is up 50p to £8 per month and 'premium' – which includes 4K and four screen simultaneous viewing – goes up £1 to £10. Similar jumps have been exhibited in the US, German and French pricing too.
All the new costs have been implemented as of today for new subscribers, those already paying for the service will learn of the charge with 30 days notice, from 19 October.
The company claims to have 104 million subscribers across the globe. Time will tell whether the price rise harms any potential growth in this base although historically there has been a backlash to these moves – although the company boasts content consumers can't get anywhere else.
The company is borrowing heavily to generate original content and lessen its dependence on third party shows and movies but that comes at a price to the consumer too. In 2018, Netlfix will spend a reported $7bn on content and something close to another $1bn on marketing, on top of additional expenses.
Netflix told Mashable that "plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster."