Oct 5, 2017

Netflix to raise prices in UK and US as competition hots up

Netflix has raised prices in countries including the UK and US for the first time in two years. 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. Shares in Netflix rose 5% in New York, bringing the increase this year to 56%. The price rises come as Netflix faces growing competition from Amazon and others such as Hulu in the US. The company has also been spending heavily on original programming such as The Crown, Stranger Things and House of Cards. Netflix bosses have previously said a big part of its success with consumers is keeping its prices down.

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