Could Netflix price rises be on the way?

Netflix subscribers in the UK may need to get ready for possible price hikes.

The streaming giant is raising prices for subscribers in the US, Canada, Argentina and Portugal.

So far, it hasn't confirmed whether prices will also go up in the UK.

And when pressed on the subject by BBC News, a Netflix spokesperson said there was “nothing to share right now”.

But it’s worth noting that the last time subscription costs rose in the US, some plans for UK users also went up.

"We will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix," it said.

So with Netflix hiking prices overseas as it enjoys a surge in subscriber numbers, now could be a good time to set some money aside just in case.

How much are prices going up by?

In the US, users will be charged:

• $7.99 (£6.49) for a standard subscription with adverts
• $17.99 (£14.60) for a standard plan without adverts
• $22.99 (£18.66) for a premium plan 

In the UK, subscribers currently pay:

• £4.99 for a standard subscription with adverts
• £10.99 for a standard plan without adverts
• £17.99 for a premium plan

What’s behind the big increase in subscriber numbers?

Netflix enjoyed a bumper year in 2024, adding nearly 19m new customers in the final quarter of the year alone.

That was well above the 9.6m new subscribers it had been expecting between October and December.

The increase was partly down to it streaming a boxing match between YouTube star Jake Paul and former world heavyweight champion Mike Tyson in November.

In fact, live sport is a big focus for Netflix right now, with two NFL games being streamed live on Christmas Day, and coverage of WWE wrestling starting earlier this month.

Mike Proulx, an analyst at Forrester Research, believes that live broadcasts have become the “secret ingredient” that’s helping Netflix leapfrog ahead of its streaming rivals right now.

Speaking to Sky News, he said: “With more choice in programming than ever before, streaming services need to differentiate.” 

"FOMO (fear of missing out) is a powerful tool in piquing interest and creating stickiness."

Paolo Pescatore, a technology analyst at PP Foresight, added that Netflix is currently “running away in the streaming market”.

“It is now flexing its muscles by adjusting prices given its far stronger and diversified programming slate compared to rivals,” he said.

TV licence needed to watch live broadcasts

If you’re watching live sport on Netflix, or any other live content, you must make sure you also have a TV licence, or you’re breaking the law.

You need a TV licence if you:

• watch live broadcasts on any TV channel, including international channels
• use streaming services and click ‘watch live’
• record live TV on any device (including VHS recorders)
• watch any content on BBC iPlayer, whether live or on catch-up

But you don’t need a TV licence if you’re watching:

• pre-recorded programmes on streaming services such as Disney Plus or Netflix
• on-demand TV via ITVX, Channel 4, or Amazon Prime Video
• YouTube videos (as long as they’re not live streams)
• DVDs, Blu-rays, or videos
• A programme that has already aired and isn’t on BBC iPlayer

In short, you need a TV licence if you’re watching anything that’s being shown live or using BBC iPlayer.

Since we know that the TV licence fee is already going up by £5 in April to £174.50, it could well be worth getting ahead of possible Netflix price hikes and making sure you’ve got the money available.

It’s easier than ever with our free budget calculator, so you can prioritise your spending and enjoy all the sporting action free of financial worry.