Netflix to hike prices by up to £24 per year for millions of users

MILLIONS of Netflix customers will see prices increase by up to £24 a year over the next couple of months.

The hikes affect viewers with both standard and premium accounts, with the bills of existing users changing from February.

As part of the changes, Netflix's standard price plan will rise from £8.99 a month to £9.99 a month, working out as a £12 hike per year.

The plan lets you watch Netflix in high definition on up to two devices at once, and download shows to the same number of gadgets.

Meanwhile, Netflix's premium price plan will increase from £11.99 to £13.99 a month, working out as an extra £24 a year.

The pricier plan lets you watch the streaming site in ultra high definition on up to four devices at once, and make downloads to four phones and tablets.

How Netflix users can cut costs

IF you want to stick with your Netflix account, we explain a few ways to cut costs.

  • Share your account and split the bill

Netflix lets you share your plan with people who live in the same household, so it's usually not worth paying for multiple subscriptions.

A standard plan lets user stream shows on two devices at the same time, while a premium pass allows streaming on up to four.

Splitting the cost of a premium plan between four of you would cost £3.50 each – saving you £2.49 each when compared to a personal basic plan.

  • Get the right plan for you

There are three types of plans available – the more expensive the package, the more screens you can simultaneously watch TV on, the better the quality and the more devices you can download shows to.

If you don't share your account and aren't bothered about the picture quality then switching to a basic plan could save you up to £96 a year.

  • Watch some shows for free without an account

Netflix ditched its free trial option last year, but viewers can watch some of its shows and movies without an account on its website.

For the shows, Netflix is currently only providing the first episode – after that, you'll need to pick a subscription plan to keep watching.

But the feature-length films are available in full without any adverts or interruptions.

  • Pause or cancel your account

There's no sign-up fee to Netflix so cancelling your subscription for the months that you don't watch it could save you cash.

Unlike traditional TV stations, Netflix typically drops entire series in one go, which means you can binge watch your favourite shows.

By only signing up to the service for one month and cancelling your subscription for the remaining 11 months of the year until a new season is released, then you could save up to £154 a year.

If you're on the basic price plan at £5.99 a month, which allows you to watch on one device, you'll be pleased to know you won't be affected by the rises.

When the price rises will take affect depends on your bill cycle.

However, Netflix told The Sun the changes will apply to existing users from January 4, 2021, with bills set to change from February.

You'll be given a month's notice via email and on the Netflix website and app before the price rise kicks in.

Meanwhile, those who joined Netflix on or after December 10, 2020, arealready paying the higher prices.

The streaming giant has around 13million UK customers.

If your bill is going up and you no longer want the account, you can cancel your membership penalty-free.

Keen to stick with the provider? We've rounded up tips on how to cut costs above.

The Sun warned over a potential UK price rise for Netflix customers last year.

Before this, Netflix last hiked prices on standard and premium accounts in May 2019.

At the time, the plans went up by £1 a month to £8.99 and by £2 to £11.99, respectively.

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