Netflix announces price increase to £7.49 per month

Video streaming service Netflix has announced another price increase to its monthly subscription, now costing £7.49 per month to watch House of Cards, Better Call Saul and other favourites in the UK.

The price increase is the second in the company’s history. It bumped the price up from the original £5.99 to £6.99 two years ago, following an expansion in Netflix Originals.

Netflix owners already subscribed will not receive the price increase until June 2016.

The UK is one of Netflix’s top priorities when it comes to content, given its large user-base. Second to the US, Netflix has been acquiring a whole host of local TV licenses and movie rights, alongside launching its original series in the region.

In the UK, Netflix competes against Amazon Instant Prime and Now TV, the two other major streaming services. Instant Video hasn’t been getting much attention, but Now TV’s Game of Thrones on-demand content has brought in a few million subscribers.

Netflix has plans to introduce a global version of its current platform in the next few years, if it can acquire global licenses from content creators in the US. This global platform will hopefully slow down the growth in piracy online.

Until that time, Netflix will continue to buy new shows from the BBC, ITV and other copyright holders.