Netflix to hike prices by up to £24 a year for millions of subscribers – here's what you can do about it
Netflix subscribers will see costs rise by up to £24 a year after the streaming service announced another round of price hikes. But you can cancel your subscription penalty-free at any time. We round up everything you need to know.
If the increase prompts you to reconsider your subscription, check out our Watch Movies and TV Online guide, which includes info on free legal streaming.
Here's how Netflix prices are set to change
This time round the price hike will affect all subscribers – basic plan customers were not affected by the last increase in 2021. Here's what's happening:
- The basic price plan will increase by £1 a month to £6.99 a month (a 16% or £12 a year increase). This plan lets you watch Netflix in standard definition on one device at a time only and download programmes to just one mobile phone or tablet.
- The standard price plan will rise by £1 a month to £10.99 a month (a 10% or £12 a year increase). This plan lets you watch Netflix in high definition on up to two devices at once and download shows on up to two mobile phones or tablets.
- The premium price plan will rise by £2 a month to £15.99 a month (a 14% or £24 a year increase). This plan lets you watch Netflix in ultra-high definition on up to four devices at once and download shows on up to four mobile phones or tablets.
The Netflix prices changes take force from 10 March
The price hike takes place for new subscribers from today (10 March), and from your first billing date after today for existing customers.
Existing customers will receive an email informing them of the increase 30 days before the change comes in, so make sure your account details are up to date. You can do this by signing into your account via a web browser and heading to your account page.
Consider switching if the increase to your Netflix subscription is too much
All Netflix plans can be cancelled at any time penalty-free without reason – so if the cost of your subscription is going up and you no longer want an account, you can stop your membership by logging in and selecting 'Cancel Membership' in the membership and billing section. If you cancel midway through your billing cycle, you'll be able to carry on using your account until the next billing date.
We've full info on alternatives to Netflix, which could be cheaper or even free, in our Watch Movies and TV Online guide. We also round up free trials for you to test before you buy.
Want to stick with Netflix? Cut costs by lowering your plan or by splitting your bill with housemates
If you do want to stick with your Netflix account, it's still worth checking whether you can cut costs – for example:
- Consider whether you need more than the basic plan – you could save up to £108 a year. As explained above, Netflix has three levels of subscription – the more you pay, the more screens you can watch simultaneously, the higher the quality you can watch in, and the more devices you can download to.
But if you only watch on one screen and you're not fussed about watching in high definition, you could slash costs by switching to a basic plan.
- Cut your cost to as low as £3.99 a month by splitting your account with family or housemates. Netflix lets you share your plan with anyone you live with, so it's almost never worth paying for multiple subscriptions in the same household.
If you live with one other person you could pay £5.49 a month each by splitting a standard plan, while if you live with three others you could pay £3.99 a month each by sharing a premium plan. Each person sharing the plan can set up a profile, so you won't mess up each other's watchlists. The basic plan is not splittable.
We've full info on ways to save in our 19 Netflix Hacks guide.