Viewers in Ireland will now have to pay up to €3 more per month to watch Netflix shows such as Vikings: Valhalla and Bridgerton.
Netflix has announced a price hike for subscribers in Ireland as global competition continues to put pressure on the streaming giant’s market share.
Starting today (10 March), new Netflix subscribers in Ireland will have to pay €14.99 for the popular standard package – up from €12.99. The cost of the basic package, which hasn’t seen an increase in nearly a decade, will now be €8.99 instead of €7.99.
The most dramatic increase in cost is for the premium package, which is going up by €3 per month to €20.99. Premium lets users access Netflix and download content on four different devices at the same time.
These changes are immediate for new subscribers, while existing customers are being given 30 days’ notice. The move comes almost exactly a year since the last time Netflix raised the cost of subscriptions in Ireland.
A spokesperson for Netflix told media outlets that the updated prices “reflect the investment we have made in our service and catalogue” and will allow the company to continue making films and TV shows such as Bridgerton, The Crown and Vikings: Valhalla.
“We have always been focused on providing our members both quality and clear value for their membership,” the spokesperson added. “We offer a range of plans so members can choose a price that works best for them.”
Some of the platform’s many popular shows have had production and filming done in Ireland, including the recent hit Vikings: Valhalla.
While Netflix continues to add new subscribers, the streaming platform said in its January earnings report that it is experiencing a slowdown in subscriber additions and gave a weak forecast for the first quarter of 2022.
As of then, its global paid subscribers stood at nearly 222m after it added 8.28m net paid subscribers in the last quarter of 2021.
Meanwhile, Netflix competitor Disney+ has been catching up fast in terms of subscribers and the gap between the two is narrowing. Disney+ added 11.8m new subscribers last quarter to reach 129.8m subscribers
Last week, Disney+ also announced that it is launching a new ad-supported subscription package for US customers later this year and worldwide next year, in an effort to further grow its subscriber base.
But Netflix is looking to hold on to its competitive edge and make a play for subscribers through adding games to its offering. Last week, it shelled out €65m for Finnish game studio Next Games, having already acquired US game developer Night School Studio last year.
Don’t miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic’s digest of need-to-know sci-tech news.