Netflix Price Hikes First Time in Two Years

For the first time after two years, Netflix has decided to increase its prices in nations like the United States and the United Kingdom.
Video streaming facilities would also be raising subscription fees in few European countries, stated by one of the spokespeople.

The subscription charges detail for the UK customers is such that for every four premium Netflix users, using at the same time the subscription would rise to £9.99 from £1 per month. Furthermore, the normal plan for the UK would see a raise from 50 pence to £7.99 per month.

With an increase of $1.00 the subscribers in the USA would be charged $10.99 per month for the standard plan while with an increase of $2.00 per month, subscription of the premium package would cost them $13.99 per month.

The basic payment package (which doesn’t cover HD viewing) for the UK customers would remain at £5.99 per month.

The new subscribers would be entertained on the new raised subscribing charges while the old users would be notified 30 days prior to the implementation of the new rates.

Other countries that would experience the increased rates are Germany and France. During the start of the following year, subscription charges were twisted in countries like Latin America, Canada, and few Nordic nations.

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In July this year, Netflix stated that it has up to 104 million viewership throughout the world and the profit has risen to $2.8 billion in the second quarter by 32 percent.

Netflix’s shares ended by 5.4 percent this year in New York, resulting in a stock gain of 56 percent.

The decision of raising subscription charges is because of the growing competition of Netflix with Amazon and websites of United State such as Hulu.

The Crown, House of Cards and Stranger Things are some original shows Netflix intends to maintain its investments for. Forty feature films varying from high budget to independent cinema are other attractions Netflix promised this year.

One of the film Mudbound, considered as a nominee for Academy Awards would be Netflix’s first film to run for Oscars. It’s a story about scarcity and race around the 1940s in Mississippi Delta.