Netflix warns of price hikes so bad it expects users to QUIT
– as app tests ‘£36 a year’ increase for Brits
The streaming platform says it is raising prices in the the UK, US, Brazil, Mexico and some parts of Europe because it needs more funding to produce its original content.Subscriber numbers are predicted to slow in April and June when the price increases are expected to be implemented and the streaming giant has said it expects to see some "modest short-term churn" in subscribers as they are likely to fall in number.
However, the streaming platform isn't worried about its new competition and has said: "We don't anticipate that these new entrants will materially affect our growth." In the UK, Netflix currently costs £5.99 for the basic package, £7.99 for standard and £9.99 for premium.
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