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Netflix Raises Prices For The First Time In 2 Years.

Jalil Javed

For the first time in over two years, Netflix has raised prices in countries including the United States and the UK.

The video streaming company will expand and increase membership charges in some European nations, as stated by a representative from the company.

A standard UK subscription will rise 50p to £7.99 a month, while the most expensive membership, allowing for four synchronous clients, increases £1 to £9.99 a month.

The standard US subscription raises fees by $1 to $10.99 a month, with a $2 rise to $13.99 for the Premium choice.

The most basic membership in the UK, which does not offer Premium streaming, stays at £5.99 a month.

The increments apply promptly for new clients while existing clients will be advised of the change 30 days ahead of time.

Germany and France are among the other nations in which costs will rise. Memberships were changed in Canada, Latin America, and some Nordic nations earlier this year.

Netflix said in July that it has 104 million subscribers all around the globe, and saw its incomes rise 32% in the second quarter to $2.8bn.

Offers in Netflix shut 5.4% in New York, bringing the stock’s price up 56% this year.

The share price rises come as Netflix faces developing rivalry from Amazon and other streaming platforms such as Hulu.

The organization continues spending intensely on unique programming, with shows such as The Crown, Stranger Things, and House of Cards, making up just some of its exclusive properties.

It has additionally guaranteed 40 exclusive films this year, running from “big-budget popcorn films to grassroots independent cinema”.

One of those titles is Mudbound, which Variety portrays as “an epic about race and destitution in the 1940s Mississippi Delta”, and features Mary J. Blige and Carey Mulligan.

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The film, which debuted at the Toronto film celebration a month ago, is accessible to stream from 17 November – the same day it opens in select US cinemas.

A few commentators have said that the film is a contender for the Academy Awards, and would be the main Netflix highlight to be in the Oscars race.

Featured Image Credits: Justin Sullivan/Getty Images

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