Netflix announces immediate fee increase for new UK subscribers

 Netflix has now decided to increase and raise their online monthly subscription for their services, streaming movies and television shows from 5.99 to 6.99. The price increase will happen as soon as possible for the media streaming business. The business has decided to raise the price of their service not just in the United Kingdom but across the world with the 48 million subscribers they have. They decision to do this and raise prices came amid the commercial and critical success of House of Cards, where Netflix invested 100 million in the drama starring Kevin Spacey and made the entire series available for immediate streaming. It has also enjoyed a ratings hit with Orange is the New Black. But it makes Netflix £1 a month pricier than Amazon Instant Video (the new name for Love film) which charges £5.99 a month.

Netflix will allow subscribers to continue paying £5.99 a month if they opt for a lower-resolution "SD" quality service. It also has a multiple-users service for £8.99 a month which allows four users to view programmes at the same time on a single monthly account.

"In order to continue adding more films and TV programmes, we are increasing our price from £5.99 to £6.99 for new members. As a thank you for being a member of Netflix already, we guarantee that your plan and price will not change for two years."

In April it said that US subscribers would see a potential "one or two dollars increase" in monthly rates for new members, while in Europe prices are also rising, from €7.99 to €8.99 a month or €11.99 for the multiscreen service.

I think that raising the prices for Netflix's service will benefit their business a lot as Netflix has plans of increasing and expanding their business in the future, having shows like House Of Cards will help the business in sales and brand awareness, as shows like these have a huge market and audience, so people will keep on paying and watch these show as this is the only platform they can watch it on, its a huge demand.