Fresh off activating its latest price increases in North America, Netflix on Thursday announced a new across-the-board monthly rate spike in the UK and Ireland.
In the UK, the price for the standard HD plan is going up £1 ($1.31) to £10.99 a month ($14.46), probably less than what HBO Max will cost when it launches in the territory later this year, but nearly twice as much as the $7.99 monthly bill for Disney Plus.
Meanwhile, Netflix's basic plan for the UK will also shoot up £1 ($1.31) to £6.99 ($9.19).
In Ireland, the standard plan is going up by by €2 ($2.20) to €14.99 ($16.54), while the basic plan will increase by €1 ($1.10) to €8.99 ($9.92).
Netflix hasn't increased the price of the basic plan in the region in nearly a decade.
Premium service -- which delivers 4K video while enabling four simultaneous streams -- will see a hike of £2 ($2.63) in the UK and €2 ($2.20) in Ireland.
New customers are subject to the price increases immediately while existing ones will ramp into the higher payments over the next 30 days.
The UK represents Netflix's biggest region outside the U.S. in terms of production budget, with the streaming company reportedly spending $1 billion to make content there in 2020.
Recent output in the region includes Power of the Dog, which is up for a Best Picture Oscar.
Netflix has around 14 million subscribers in the UK and another 600,000 in Ireland, according to Ampere Analysis.
"Our updated prices reflect the investment we have made in our service and catalog, and will allow us to continue making the series, documentaries and films our members love as well as investing in talent and the creative industry," Netflix said in a statement. ■
