Martin Lewis reveals Netflix is increasing its prices
The UK is once again facing stringent lockdown restrictions, with Britons being urged to stay at home except for certain specified reasons, in order to slow the spread of coronavirus. While some may be taking up new hobbies during this time, others may be keeping occupied by catching up on TV shows.
For some, that means logging into their Netflix account.
However, Britons should be aware that the cost of being an account-holder may soon rise.
As Martin Lewis discussed this evening, Netflix will be hiking UK prices by up to £24 per year.
The increase to subscription charges will change for existing users from February.
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The streaming service said it started notifying customers about the decision this week, saying all of its 13 million UK customers will be contacted “in the next couple of months”.
Despite the changes set to begin in February, Netflix has confirmed customers will get a month’s notice before the rise kicks in.
It comes following higher prices for new customers were introduced last month, on December 10.
Tonight, Martin and Angellica discussed the news, and highlighted some ways in which Britons could save themselves cash.
“It is hiking prices – up £1 a month for its standard, up £2 a month on its premium,” Martin began.
While some may be set to pay the higher price, he went on to share a way to reduce outgoings.
“So what’s my key tip? Well, check now what package you are on. You may be able to downgrade.
“A basic package, which isn’t moving in price, is £6 a month.
“You can only use one device at a time – multiple devices but only one at a time – and it’s only SD [standard definition]. It’s not HD [high definition] on that one.”
However, Martin suggested that those streaming from their mobile phone or tablet may not notice much of a difference between the two options.
“The standard package is £10 a month, you get two devices at a time, and you can watch on HD there.
“Or alternatively, if there’s lots of you with membership in one household, well cut that down and go for the premium and you can get four devices for £14 a month, which is cheaper than multiple memberships.
“And, what you may also not know about Netflix, is you can go to Netflix.com/watch-free and it has some of its shows available for free there and you don’t have to pay.”
Elsewhere during the money show, Martin shared his predictions when it comes to interest rates this year.
Explaining he thought further cuts could be ahead, the financial journalist and campaigner spoke about how savers could “protect” substantial sums of money.
The Martin Lewis Money Show Live continues on Thursday on ITV at 8.30pm.
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