Netflix users warned US, Canada, Portugal, Argentina rules are coming to UK
Netflix is hiking in the US - and Brits could be hit by a similar hike very soon, an expert has warned. Viewers across the pond, Canada, Argentina and Portugal, have been told they'll have to pay up to $2.50 (£2.02) extra per month going forward, the streaming giant says.
An expert has warned Brits that the UK will likely be next. In the UK, the ad plan for the streamer - which has recently become the home of WWE - currently costs £4.99, the standard plan costs £10.99 and the premium plan costs £17.99.
"Typically, the UK often follows the US and should expect news in due course around a similar percentage increase," Paolo Pescatore, an analyst from PP Foresight told The Sun. Netflix CEO, President & Director Gregory K Peters said: "We exceeded our ads revenue target in Q4, which was an exciting milestone to reach.
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"We doubled our ads revenue last year, year over year, and expect to double it again, so that should give you a sense of the slope of monetization growth we’re on. There’s considerable work ahead of us, for sure, but we don’t see specific hurdles, other than doing the work."
In the US, prices will increase across almost all plans including the standard subscription with no adverts which will now cost $17.99 (£14.60) a month, up from $15.49. Its membership with adverts will also rise, by one dollar to $7.99.
Paolo Pescatore, a technology analyst at PP Foresight, said Netflix "is now flexing its muscles by adjusting prices given its far stronger and diversified programming slate compared to rivals". Net profit between October and December doubled to $1.8bn compared to the same period a year ago.
Netflix is the home of Wednesday, Squid Game, Squid Game 2 and Stranger Things, as well as WWE's RAW and SmackDown.