It’s not a great start to the year for those who love streaming shows, watching movies and bingeing on the latest boxsets. Netflix has just announced that millions of users are about to see the costs of their monthly bill go up. The streaming firm had already hiked its Standard and Premium plans for new customers with both increasing by £1.
That means those signing up now pay £9.99 to stream on more than one device at the same time and £13.99 for the ultimate option which beams content to your TV in glorious 4K.
Now it seems that existing Netflix streamers will soon be told about their bills getting bigger as well.
In a post on its website, Netflix said: “These prices apply for new members and will gradually take effect for all current members. Current members will be notified by email 30 days before their price change takes effect.”
Although Netflix is yet to confirm exactly when the new pricing will start, reports suggest that it could be as early as this week. As the post reveals, you’ll then have 30 days before the new pricing hits your monthly bill.
Those who subscribe to the “Basic” £5.99 package won’t be affected as this plan is not going up in price.
Speaking about the rise Nick Baker, streaming and TV expert at Uswitch.com, said: “Netflix has been a lifeline for many people during lockdown, so this price rise is an unwanted extra expense for households feeling the financial pressure.
“It’s unfortunate timing that this price hike coincides with another national lockdown, when all of us will be streaming more television and films than ever.
“It’s worth remembering that if you feel you aren’t getting value for money from your subscription you can cancel penalty free whenever you want. “Alternatively, if you’re currently on the standard plan but could manage watching on just one screen, you could downgrade to a basic package for £5.99.”
News of this streaming increase comes as Virgin Media broadband and TV users are also being hit by a price rise in March.
The firm said that most customers will be affected by the increase which will see prices going up by as much £4.50 per month.
A Virgin Media spokesperson said: “Through continued investment, improvement and innovation we’re committed to providing great value and a top service for our customers.
“Over the last year our customers have used their connectivity more than ever before, with data use increasing at the fastest rate we’ve ever seen. We’re already investing more than £1bn in our network each year and consistently give our customers more megabits for their money, but to help meet this demand we do sometimes need to review our prices.
“Changing prices is never an easy decision, which is why, unlike other providers, this is our first cable price change in 18 months. We are currently writing to cable customers to transparently communicate these changes and we will continue to work tirelessly to ensure we deliver for our customers and keep them connected at a time when it has never been more important.”