(Reuters) – Netflix Inc on Wednesday raised membership prices for millions of British customers, as the video streaming giant invested heavily in local content such as “The Crown”, “Sex Education” and “Top Boy”. ”.
Netflix upgraded the price of the standard two-screen subscription by 1 pound to 9.99 pounds ($ 13.60) per month and the high subscription by 2 pounds to 13.99 pounds.
“This year we are spending over $ 1 billion (£ 736 million) in the UK on new, locally produced films, series and documentaries, helping to create thousands of works and showcases British stories at their best, ”a Netflix spokesperson said on Wednesday. .
This move comes as Britain has recently entered another lockout as a result of a growing threat from the new version of the coronavirus, as people stay home again and looking at video streaming services for entertainment.
Last October, Netflix slammed prices in the United States for its standard and premium membership plans, saying they must resist investments.
Netflix’s basic plan costs will remain at 5.99 pounds per month.
($ 1 = 0.7346 pounds)
Reporting by Eva Mathews in Bengaluru; Edited by Amy Caren Daniel