Netflix announces further €1 rise in monthly charge

Online streaming service Netflix is to hike prices by €1 for new Irish subscribers — the third increase in 18 months.

The increase, which will also apply to users across Europe, means it will now cost €10 to access Netflix two-stream HD plan, up from €9.

The cost for existing users will remain the same until August 2016. Netflix has blamed the price hikes on the need to raise funds to source new TV shows and films.

“To continue adding more TV shows and movies, including many Netflix original titles, we’re modestly raising the price of our two- stream, HD plan for new members,” said a Netflix spokesperson. “As a thank you to existing members, their current plan and price will not change for one year.”

The streaming service is understood to have around 200,000 subscribers in Ireland.

The users, or members as Netflix calls them, can pay for a one-stream (€7.99), two-stream (now €9.99) or four-stream (€11.99) package.

The latest price rise is the third in a series of €1 increases over the past 18 months. For those who joined before the first price rise, the price will remain at €6.99 until August 2016.

The US media giant is now the world’s largest subscription streaming service. While it initially provided old TV shows and films, it has since moved into originally produced programming such as the critically acclaimed House of Cards and Orange is the New Black, Daredevil, and Better Call Saul.

Outside of the US, Britain has the largest number of Netflix subscribers at an estimated 4.5m. Germany comes in at second place with around 650,000 subscribers. The company is set to launch a service in Italy, Spain and Portugal next year.

Last month, Xtra-vision launched its subscription service Xtra-Club and Xtra-Club Plus for €14.99. With no late fees and no time limits, it allows subscribers to hold on to their movies and games for as long as they like.