Netflix has confirmed a price increase for millions of its users from next month. The streaming platform, which had around 17 million subscribers in the UK as of late 2021 according to Statista, has confirmed its basic and standard plans will increase by £1 a month to £6.99 and £10.99 respectively, while the premium tier will go up by £2 to £15.99 from May 12, 2022 for UK and Ireland subscribers.
It comes as another blow for millions of households who rely on Netflix for TV and entertainment as costs of living continue to increase across energy prices, rents, council tax and supermarket prices. The company, which hosts major shows like Bridgerton, The Crown and Stranger Things, said in an email to customers that the hike was to "allow us to deliver even more value for your membership – with stories that lift you up, move you or simply make your day a bit better."
However, many will be wondering if they will be able to afford even higher prices or whether they will have to cancel their monthly payments. Finance experts at money.co.uk have crunched the numbers to work out the average cost per hour of content watched on each of the most popular platforms to find out which ones offer best value for money, reports the Daily Record.
