Netflix has upped the price on some of its subscriptions after seeing a leap in subscribers, thanks to its crackdown on password sharing earlier this year.
Between July and September it saw nearly nine million households sign up worldwide - the biggest rise in subscribers since the pandemic in 2020.
What’s more, Netflix is forecasting a further nine million subscribers by the end of the year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Find out if you are affected by the Netflix price hike and how much your subscription costs now.
Which Netflix subscriptions have risen in price?
These are the Netflix subscriptions rising in price in the UK.
| Netflix subscription | Old price | New price |
|---|---|---|
| Basic plan (only available to existing customers) | £6.99 | £7.99 |
| Premium plan | £15.99 | £17.99 |
For premium plan customers, this adds £24 annually to their bill – a 13% rise. The US and France will also see the price raised on their Netflix subscription.
The price increase is already in place from 18 October, in the UK, for new customers. Existing customers should not see a price rise straightaway. You will be notified of any change in price by email over the next month. But it is not clear if this means you will pay the new price from your next billing date.
For customers with a standard plan, there are no price changes. So you will continue paying the following price a month:
- £4.99 for the standard plan with adverts
- £10.99 for the standard plan without adverts
How to cut the cost of your Netflix subscription
The new Netflix price hikes aren’t welcome, but you have alternative streaming options to choose from.
If you’re on a premium plan, here’s what you can expect to pay elsewhere for a like-for-like subscription.
- Apple TV Plus costs £6.99 a month
- Paramount Plus costs £6.99 a month
- Disney Plus costs £7.99 a month
- Amazon Prime costs £8.99 a month
The likes of Disney Plus and Apple TV Plus subscriptions can be cut even further. It’s worth checking what rewards you get with your mobile provider or your packaged bank account.
For example, you can get a year of Disney Plus free with a Lloyds Club account. It’s a good time to switch to a Lloyds Club account too as they are offering £175 when you switch your current account to them.
And if you’re a big Netflix fan and don’t want to give up your subscription, you can also opt for a cheaper subscription plan. For example, its standard plan (without ads) is £7 cheaper than the premium plan.
-
Why Chinese stocks are so far out of favourThere’s little appetite for Chinese stocks despite low valuations.
-
The 62 UK areas where you could be priced out of using your Lifetime ISASaving for your first home in Croydon, Ealing, Brent or any one of these other locations? You could be at risk of being priced out of using your Lifetime ISA
