Netflix ups UK subscription fees

Netflix’s The Crown is thought to be one of the most expensive drama series ever made

Global streamer Netflix will increase subscription fees for most of its UK users from next month, attributing the rise to “significant investments” in content.

From February, the standard monthly package will go up from £8.99 (US$12.20) to £9.99, while the premium package will rise by £2 to £13.99. The basic package will remain at £5.99.

Netflix said it would be spending £736m on UK-made content this year, including royalty drama The Crown, with the subscription hike reflecting investments and improvement.

Last year, the streamer received a significant boost in Q1 as multiple countries went into Covid-19 lockdowns, adding more than double the seven million new subscribers that had been forecasted (15.77 million).

Several shows released in 2020 attracted tens of millions of viewers, according to Netflix’s own data, including docuseries Tiger King, with 64 millions views; Spanish-language crime drama Money Heist, with 65 millions views; and drama The Queen’s Gambit, with 62 million views.

Despite this, Netflix said it fell short of projected new subscriber figures between the beginning of July and the end of September, adding 2.2 million subscribers rather than 2.5 million it expected.

Netflix said: “This year we’re spending over $1bn 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.

“Our price change reflects the significant investments we’ve made in new TV shows and films, as well as improvements to our product.”