'Thanks for the price hike - great timing!' Netflix users slam 'greedy' streaming site for increasing subscription by up to £2-a-month as UK enters third lockdown
Netflix users have slammed the 'greed' of the streaming giant for hiking subscription fees by up to £24-a-year as the UK enters its third lockdown.
The firm is increasing its standard package - which allows two screens to access an account, as well as HD - by £1 per month, from £8.99 to £9.99.
The premium package - providing four-screen access per account and Ultra HD - is bumped up by £2, from £11.99 to £13.99.
Netflix said the price hikes are essential to reflect the 'significant investments' it has made in new TV shows and films.
However, the move has angered many, with users rushing to vent their frustration on social media.
Netflix said the price hikes are essential to reflect the 'significant investments' it has made in new TV shows and films
One wrote: 'Here we go Netflix getting greedy will only lose subscription. Price hike in the UK is not the answer in these COVID times'
Another said: 'The nerve of Netflix to increase the monthly price when they still don't have all the Harry Potter films on there'
A third questioned the move, asking: 'Netflix is now going up in price? Why? They'd have made a killing already last year'
Another said: 'Netflix can go take a hike as I'm not paying any more. @NetflixUK you should be ashamed! We are in the midst of national lockdown and you are coining in on that!'
A fifth said: 'Thanks for the price hike @netflix great timing #lockdown'
Netflix users slammed the 'greed' of the streaming giant for hiking subscription fees by up to £24-a-year as the UK enters its third lockdown (pictured: Netflix's Twitter bio)
THE HISTORY OF NETFLIX PRICE HIKES
May 2014: Netflix announced an increase in its monthly fee for streaming movies and television shows from £5.99 to £6.99.
The price hike was immediate for new subscribers but was delayed for two years for its existing members.
But Netflix allowed subscribers to keep paying £5.99 a month if they opt for a lower-resolution 'SD' quality service.
May 2016: Netflix raises its monthly price for UK basic users from £5.99 to £7.49 a month.
A similar price change took place for US customers, who saw their subscription fee increase by $2 (around £1.40 at the time).
Anyone who signed up to Netflix when it launched in Britain would have received the standard package for £5.99 per month.
But in an email to subscribers Netflix wrote: 'When we raised prices for new Netflix members in 2014, we kept your price the same for two years. Your special pricing is now ending and your new price will be £7.49 per month.'
October 2017: The company raised prices in both the UK and US for the first time in two years.
The standard package price increase by 50p to £7.99 per month.
The premium packagejumped to £9.99 a month, an increase of £1.
Netflix said at the time that the price change reflected the additional content added to its service.
May 2019: Netflix confirms that British customers will see the price of the standard tarriff increase from £7.99 to £8.99.
The premium tarriff was also bumped up by £2 to £11.99.
January 2021: Netflix hikes subscription fees for UK users as the country entered its third lockdown amid the coronavirus pandemic.
The standard package - which allows two screens to access an account, as well as HD - was raised by £1 per month, from £8.99 to £9.99.
The premium package - providing four-screen access per account and Ultra HD - is bumped up by £2, from £11.99 to £13.99.
One wrote: 'Here we go Netflix getting greedy will only lose subscription. Price hike in the UK is not the answer in these COVID times'.
Another said: 'The nerve of Netflix to increase the monthly price when they still don't have all the Harry Potter films on there.'
A third questioned the move, asking: 'Netflix is now going up in price? Why? They'd have made a killing already last year'.
Another said: 'Netflix can go take a hike as I'm not paying any more. @NetflixUK you should be ashamed! We are in the midst of national lockdown and you are coining in on that!'
A fifth said: 'Thanks for the price hike @netflix great timing #lockdown'.
Those concerns were echoed by Uswitch.com's streaming and TV expert, Nick Baker.
He 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.
'During the first lockdown, the amount of streaming content watched by consumers rose a third on the previous year, and our viewing habits are likely to increase similarly this time.
'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.'
Netflix's one-screen non-HD basic plan will remain at £5.99 per month.
The streaming giant began raising subscription costs for new members in December.
Existing customers will be notified by email and will also receive a notification within the Netflix website and app a month ahead of their price change, based on their billing cycle.
'This year we're spending over one billion dollars 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,' a Netflix spokesperson said.
'Our price change reflects the significant investments we've made in new TV shows and films, as well as improvements to our product.
'Our basic membership will remain at the same price, ensuring as many people as possible can enjoy our content.'
Social media users posted their disapproval on Twitter as Netflix announced a price increase