Netflix US increased the costs of its subscriptions only last year, but sadly prices are going up again. On top of that, Netflix UK will also be affected by the price hikes.
If you want to know when these new costs kick in, and how much it will cost you, then we have everything you need to know.
When is Netflix increasing its prices?
Netflix’s price increase kicked in on 18 October 2023 for both new and existing subscribers in the US, UK and France.
Therefore, if you’re already signed up you will be charged the new amounts on your next bill.
Netflix UK last changed its prices in December 2020, so a price increase for this country was expected. The US, however, only had a price hike just last year.
How much are Netflix subscriptions increasing by?
If you’re on the Standard or Standard with Ads plans in the US or UK, then good news – your plans will be remaining the same. These prices are $15.49/£11.99 for the Standard plan, and $6.99/£4.99 for the Standard with Ads plan.
However, both the Basic and Premium plans will be getting cost increases. Note that if you’re a new subscriber, you can no longer sign up for the Basic plan – this is for existing users who are still on this plan.
Here are the new monthly prices for Netflix Basic and Netflix Premium:
Netflix Basic: Increasing from $9.99 per month to $11.99 per month
Netflix Premium: Increasing from $19.99 per month to $22.99 per month
Netflix Basic: Increasing from £6.99 per month to £7.99 per month
Netflix Premium: Increasing from £15.99 per month to £17.99 per month
As far as we’re aware, the price for extra members ($7.99/£4.99 per month) is remaining the same – this is for people who still share an account after Netflix cracked down on password sharing.
Is there any way to avoid a Netflix price hike?
Short of cancelling your Netflix subscription, no. Netflix does not offer annual plans like Disney+ and Amazon Prime do.
The best way to save money is to either downgrade your plan or leave the service and get your streaming needs from a rival platform.
Why is Netflix increasing its prices?
Netflix gave the following statement in its Q3 earnings call to shareholders: “We want to sustain that virtuous cycle because when we partner with the best creators, we can delight our members, invest more in amazing TV series, movies and games and build an even more valuable business”.
Essentially, the price increase should help them make more content… should there be no mass cancellations, that is.