Making good on Netflix CEO Reed Hastings’ heads-up last month that the company will hike prices for its streaming business, Netflix has put through a 10% price rise in the Eurozone for its standard two-stream HD subscription service.
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According to a report from The Hollywood Reporter, Netflix prices are going up! Baseline non-HD Netflix subscriptions will remain unchanged for now at €7.99 ($8.86) a month, as will its premium subscription at €11.99 ($13.30). These include the Netherlands, France and Germany among others.
Netflix has raised its monthly subscription fee for new members with one euro to €9.99 across Europe. The company has made a similar price hike in the United Kingdom as well and on some of its offerings in the Nordic countries earlier in the year.
Over the years, Netflix has started to make quite footprint in Europe.
Future Source Consulting, a British market research firm estimated that Netflix has 750,000 members in France, three times higher than the estimate of released by the French Ministry of Culture. The United Kingdom stays Netflix’s largest worldwide territory, with a projected 4.5 million users across the country. Though the company has not yet fully expanded into Europe, its market share is already substantial and growing. Apparently, the increase will only affect standard subscribers, also.
In an email to customers they said that the increase is so that they can add new films and TV programmes.
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“As a thank you to existing members, their current plan and price will not change for one year”, it adds.
