Shortly after bumping up prices for some of its streaming plans in the U.S., Netflix is raising rates in the U.K.
According to the BBC, Netflix’s standard service tier will increase from £8.99 to £9.99 per month and its premium tier will increase from £11.99 to £13.99 per month. The company’s basic plan is staying at £5.99 per month.
Netflix attributed the price increase to rising content costs in the U.K.
"This year we're spending over $1bn [£736m] in the UK on new, locally-made films, series and documentaries, helping to create thousands of jobs and showcasing British storytelling at its best - with everything from The Crown, to Sex Education and Top Boy, plus many, many more,” the company told the publication.
Following speculation of an imminent price increase for U.S. subscribers, Netflix officially announced a change in October. The company raised its Standard plan price to $14/month (previously $13) and Premium plan to $18/month (previously $16). The $9/month Basic plan stayed the same.
Netflix had previously raised prices for U.S. subscribers in early 2019. The price for Netflix’s most basic tier climbed from $8 per month to $9; the price for the Netflix’s most popular tier, which allows viewing on two screens at a time and includes HD video, jumped from $11 per month to $13; and the company’s highest tier, which allows up to four screens at once and include Ultra HD video, increased from $14 per month to $16.
Netflix added 2.2 million net memberships in the third quarter, fewer than the 2.5 million it predicted. However, through the first nine months of 2020, Netflix added 28.1 million paid memberships, more than 27.8 million it added in all of 2019.