Netflix has raised prices in countries including the UK and US for the first time in two years. The streaming video service will also increase subscription charges in some European countries, a spokeswoman said.A standard UK plan will rise 50p to £7.99 a month, while a premium subscription for four simultaneous users, jumps £1 to £9.99 a month.The standard US plan increases by $1 to $10.99 a month, with a $2 rise to $13.99 for the premium option.The increases apply immediately for new customers, while existing users will be notified of the change 30 days in advance. Germany and France are among the other countries that will see price changes.Shares in Netflix rose 5% in New York, bringing the increase this year to 56%.The price rises come as Netflix faces growing competition from Amazon and others such as Hulu in the US.The company has also been spending heavily on original programming such as The Crown, Stranger Things and House of Cards.Netflix bosses have previously said a big part of its success with consumers is keeping its prices down.
Source: BBC News