The great streaming war is fully underway. That means streaming services are becoming more reliant on producing original content to keep attracting fresh subscribers. Netflix intends on making more new films and television shows, and those aren’t cheap to produce. Therefore, it’s been confirmed that prices for the service will increase in the UK next month.
Per the BBC, the basic package will remain at £5.99 for the time being, which is currently the fee for a Disney Plus subscription (at least for now). Elsewhere, the standard monthly package will increase from £8.99 to £9.99. The premium option, meanwhile, will rise from £11.99 to £13.99.
Of course, this appears to be the new annual trend. As you’ll recall, Netflix put its prices up last years as well — for the exact same reasons as the latest price hike. The streamer has defended the decision by insisting that it’s essential for content-creation purposes. While the last thing anyone wants to do is spend more money during these financially uncertain times, some subscribers might be excited to know that the company plans on supporting more homegrown entertainment.
“This year we’re spending over $1bn [£736m] 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. Our price change reflects the significant investments we’ve made in new TV shows and films, as well as improvements to our product.”
Of course, Netflix has been soaring throughout the global pandemic. The streamer attracted 16 million new worldwide subscribers in the first three months of 2020 alone. As such, there’s a higher demand for fresh entertainment, perhaps more so than ever before.
Unsurprisingly, British-based viewers have also been more engaged with streaming platforms in recent months. The first national lockdown, which took place in March of last year, saw the amount of streaming content watched by consumers rise by a third compared with 2019.
Netflix isn’t the only streaming service that will up its subscription fees in the near future, either. GamesRadar pointed out that the House of Mouse will start charging Disney Plus subscribers £7.99 per month — or £79.90 for the full year — come August. However, that only applies to existing customers. Newcomers will be expected to pay the additional £2 starting in March.
Considering that Disney recently announced a massive slate of upcoming Marvel, Star Wars, and other tentpole projects, don’t be surprised if the fees keep rising down the line. And we’ll all pay it because we’re hooked. God bless, capitalism.
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