Streaming giant Netflix is set to raise its prices for Irish subscribers in a move that marks the third time in three years the service has done so.
The cost of both Netflix’s standard and premium plan is to rise, though the Irish Times reports the cost of its basic offering will stay the same at €7.99 a month.
The company last hiked prices in June 2019, saying the new rise reflects investments made in new shows, films and improvements to the service.
The cost of the company’s standard plan, which allows users to view content on two screens at the same time, will increase by €1 to €12.99.
Its premium subscription plan, which lets users’ stream TV shows and films on four devices simultaneously, will increase by €2 to €17.99.
Our price change reflects the significant investments we’ve made in new TV shows and films
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Netflix is expected to confirm the move on Thursday, while existing subscribers will be notified by email and within the Netflix app a month before the new prices are applied to them. Increases will apply to new members immediately.
“Our price change reflects 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,” a spokeswoman for the company said.
The spokeswoman said Ireland and Britain is Netflix’s second most important market for production globally, with $1 billion (€820 million) spent on content this year alone.
The company is creating several programmes locally, with the series Fate Winx Saga filmed at Kilruddery House in Co Wicklow and Vikings Valhalla currently in production in Ashford, Co Wicklow.
The rise in prices comes as Netflix faces a battle for viewers with other streaming services such as Disney+, which recently announced that its platform surpassed 73 million subscribers globally.
This year saw Netflix’s weakest subscriber gains in four years, though it added 2.2 million paid members during the third quarter and boasts over 195 million subscribers across more than 190 countries.
