Many Irish Netflix customers will now be paying up to 14.5pc more each month as the company tries to pay for its big investments.
Netflix has confirmed that from today (20 June), all of its Irish subscribers – except for those on its most basic package – will have to pay more for its content.
This basic package – which allows one screen to view content at any time in standard definition – will remain €7.99 per month. However, the standard package allowing for two screens to be viewed at a time will rise by €1 to €11.99. Finally, its premium subscription, which allows for four screens to be viewed at a time, will jump by €2 to €15.99. However, it added that this was the first price increase for Irish customers since October 2017.
In explaining the decision, 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. Our basic membership will remain at the same price, ensuring as many people as possible can enjoy our content.”
The move comes amid increasing competition in the streaming space, especially ahead of the near-imminent launch of Disney’s own streaming service, Disney Plus, following its major acquisition of 21st Century Fox for $71.3bn in March of this year.
Analysts recently claimed that interest in the Disney service was even higher than expected in the US, with 43pc of survey respondents saying they were interested in tapping into the combined catalogue that would include both the Marvel cinematic universe and TV show classics such as The Simpsons.
However, Netflix’s April earnings report for Q2 appeared to show signs of optimism, with it announcing 9.6m new subscriptions, a growth of 16pc year on year. This puts it at 155m subscribers globally and it still has a 30pc share of the market. At the time, it said it expected to pick up another 5m subscribers by June, slightly lower than the previously projected 5.48m.