Netflix has increased the price of some subscriptions in the UK
Martin Lewis issued his verdict on Netflix raising the price of some of its subscription plans in the UK.
The streaming giant said the price of its basic, ad-free subscription would rise from £6.99 a month to £7.99, while its premium subscription would rise from £15.99 to £17.99. The rise comes as the US firm revealed it had added 8.8 million subscribers between July and September – more than expected – partly driven by its scheme to crack down on password sharing.
It has introduced an extra fee to enable more than one household to share the same account, which the company said accounted for around 30% of the new sign-ups in countries where it was available.
"It's just announced price rises and its top price is an eye-watering £17.99 per month- is this for the 'decoy effect'." Martin first referenced the 'decoy effect' in a blog post from 2020, where he experimented to prove how streaming price structures can make people opt to pay more. In the article, he explained how an element of the 'decoy effect' involves a higher-priced item being sold, to make items next to it look like bargains. However, Netflix said many users appeared to be choosing to pay the extra fee for household sharing rather than quitting the service.Get a free National Trust pass worth up to £50 for your family day out this autumn
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