Netflix Raises Prices in the U.K., Streamer’s No. 2 Market

Netflix is raising prices across all of its subscription plans in the United Kingdom and Ireland — the streamer’s No. 2 market after North America. Prices are increasing from £1 to £3 ($1.32 to $3.95) for a region totaling almost 15 million subscribers, according to Ampere Analysis. Netflix ended 2021 with almost 222 million subscribers globally.

“Our updated prices reflect the investment we have made in our service and catalog and will allow us to continue making the series, documentaries and films our members love as well as investing in talent and the creative industry,” Netflix said in a statement. “We offer a range of plans so members can choose a price that works best for them.”

Indeed, the price hike, the second in the region in 18 months, mirrors Netflix’s strategy upping fees in mature markets with low churn. That contrasts with the SVOD pioneer’s competitors that are embracing lower cost ad-supported pricing tiers on top of SVOD price hikes.

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Speaking on the Netflix fiscal call earlier this year, Greg Peters, COO and chief product officer, said price hikes reflect in part that the streamer is doing something right.

“[It’s] really our signal that we’ve done a good job at sort of creating this more value, and it’s the right time to ask for a little bit more to keep that going,” Peters said.

Disney will launch a lower-priced ad-supported streaming option later this year, more than a year after it raised the Disney+ subscription by $1 to $7.99. Last December, Disney raised by $5 the monthly fee for its Hulu+Live TV online television platform.

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