SINGAPORE - Streaming service Netflix has announced a price hike for all three service tiers it offers in Singapore, to take effect from Jan 9, 2020.
The lowest tier service will go up $1 a month, from $10.98 to $11.98. The mid-tier service will increase by $2 a month, from $13.98 to $15.98 while the top tier will climb $3 a month, from $16.98 to $19.98. All revised prices include taxes.
The tiers vary in price based on the quality of the image (standard, high or ultra-high) and number of concurrent streams.
Singapore users had been expecting a revision after Netflix announced price hikes in the United States earlier in 2019.
Mr Leigh Wong, Netflix's head of communications for South-east Asia, told The Straits Times that this is the service's first price hike since the service launched in Singapore in January 2016.
"We have heavy investments in shows and we want to continue delivering great shows across all genres," he said, explaining the hike. The increases will also fund technology improvements.
The revisions come just as new streaming services such as Apple TV+ ($6.98 a month) are making a mark here, but the Netflix spokesman is confident that existing subscribers will stay loyal.
While the service is home to hits such as the thriller series Stranger Things, the acclaimed mob film The Irishman from director Martin Scorsese and the recently launched fantasy series The Witcher, it will not get complacent, he says.
"Competition is always going to be there. We are determined to win consumer confidence every day. We don't take it for granted. We'll continue coming up with great shows."
Environmental solution services executive Milton Ng, 56, has a Netflix account that is shared with his family of four. He says the price hike will not affect his decision to subscribe to the service.
"It works out to just a few cents each between the four of us," he says, adding that his family would not want to give up their favourite shows, which include legal dramas Billions and Suits.