Netflix hikes prices

Online streaming giant raises prices for services in the United States and parts of Europe; Asia will not be affected

LOS ANGELES • Netflix on Thursday said it is bumping up subscription prices in the United States and parts of Europe as the leading online streaming service invests in more shows and features.

"From time to time, Netflix plans and pricing are adjusted as we add more exclusive television shows and movies, introduce new product features and improve the overall Netflix experience," the company said.

A basic plan that offers streaming to a single screen will remain at US$7.99 (S$10.90) monthly in the US.

The most popular plan, which supports high-definition video and allows simultaneous streaming to two screens, was raised by a dollar a month to US$10.99.

A top-level plan that includes super-rich 4k video and watching from four screens at a time has been increased by US$2 to US$13.99 monthly.

The price changes applied immediately to new customers and will be rolled out in the weeks ahead to current subscribers.

The increase was limited to the US and a handful of European countries, including France, Britain and Germany, Netflix said.

Netflix confirms the price hike will not impact Singapore and Asia.

The streaming giant last raised prices in the US two years ago.

Netflix subscriptions still came in far cheaper than traditional cable service packages.

The company in July reported that subscribers grew in the second quarter of this year to 103.95 million.

Most of the growth came from outside the US, where Netflix has invested heavily in establishing itself as a global television service.

AGENCE FRANCE-PRESSE

A version of this article appeared in the print edition of The Straits Times on October 07, 2017, with the headline 'Netflix hikes prices'. Print Edition | Subscribe