Netflix Raises Prices in Europe as International Expansion Continues
By Evan DeSimone
After raising its prices for new incoming customers in the United States from $7.99 to $8.99 a month late last year Netflix, is now ready to make a similar move in Europe, raising the monthly cost of the service from €8.99 ($10) to €9.99 ($11).
Netflix announced the change in a mailing to subscribers noting that the increase was necessary in order to continue providing quality service. Baseline non-HD Netflix subscriptions will remain unchanged for now at €7.99 ($8.86) a month, as will its premium subscription at €11.99 ($13.30). The increase applies to most of Netflix’s European territories, although there is some variation in the pricing scheme. In Switzerland, the price of Netflix subscriptions will climb to $15.26. Netflix already instituted similar price increases in the U.K. and parts of Scandinavia earlier this year.
The news of the price increases comes as Netflix prepares to launch in several new European markets, including Italy, Spain and Portugal, later this year as part of a massive international expansion. Netflix has reportedly been in talks with Chinese media companies about bringing its services to that country, and the streamer’s stock rose 8% earlier this month on news that it was eyeing an expansion into Japan.