Netflix hikes UK prices by up to £24/yr

Here's how prices are changing:

• Netflix's standard plan, which lets you watch two screens at a time and offers HD viewing, will now cost £8.99/month, a 12.5% rise from its previous price of £7.99.

• Netflix's premium plan, which lets you watch four screens at a time and offers ultra HD, will now cost £11.99/month, a 20% rise from its previous price of £9.99. 

New customers signing up from today will pay the higher price after their free month's viewing ends, while existing customers will start paying the increased prices "over the coming weeks". It says existing customers will be told about the increase by email and within the Netflix app at least a month before they start paying the new prices.

Netflix's basic package, which costs £5.99/mth and lets you watch on one screen at a time without an HD option, will remain the same price. 

The site, which has 10 million UK users, tested price rises earlier this year by showing higher prices to some potential customers.

For full help on how to beat the hikes and cut the cost of your Netflix subscription, see our brand-new list of 20 Netflix Hacks.

How can I beat the hikes?

Unlike with digital TV packages, the price of a Netflix subscription is fixed, so you can't simply haggle a better deal. But there are three different levels of subscription - the more you pay, the more screens you can watch on simultaneously, the higher the quality you can watch in and the more devices you can download shows to.

With the price increases for the standard and premium plans announced today, you'll save even more by downgrading to the basic package. How the packages work can be seen below, so if you're on a premium or standard plan, consider if you need it. If not, consider downgrading:

What does Netflix say?

A Netflix spokesperson said: "We change our prices from time to time to reflect the significant investments we've made in new TV shows and films, as well as improvements to our product. We have more than 50 productions planned in the UK this year, including new seasons of Black Mirror, Sex Education and After Life.

"Our basic membership will remain at the same price, ensuring as many people as possible can enjoy our content."