Netflix price hike - how to keep your bill cost down

Streaming service Netflix is raising the price of two of its three packages by £24 a year for its 13 million-plus subscribers in the UK

With the new prices already in place for new subscribers and starting from February if you already have an account.

Netflix offers three plans: Its standard package, which allows you to watch on two screens at one time, will go up from £8.99 to £9.99, while its premium plan will rise from £11.99 to £13.99 and can be watched on four screens in HD or Ultra HD if it’s available.

Its basic plan, at £5.99, remains unchanged. All plans can be watched on your TV, computer, mobile phone or tablet.

The new prices came into effect for new subscribers from December 2020, while existing subscribers will see their bills go up from February, depending on the day their monthly subscription starts.

During the first lockdown in April, the amount of streaming content watched by consumers rose a third compared with the previous year, according to research by Ofcom.

People spent an average of six hours and 25 minutes each day watching TV and online video content. Subscribers spent twice as much time watching streaming services such as Netflix, Disney+ and Amazon Prime. And it looks as if our viewing habits will not change during this lockdown.

Most adults who signed up to Netflix (96%), Amazon Prime Video (91%) and Disney+ (84%) said they plan to keep their subscriptions – and with a new lockdown, you may also be reluctant to ditch it.

What can I do to cut my Netflix bill?

If you find you’re not using Neflix that much, you can cancel at any time without penalty.
You can split your subscription costs with flatmates or family you live with as individual households can share a plan.
Save money by downgrading to the basic package for £5.99 if you can watch on one screen.
Cancel your subscription for a month or two when you’re watching less – during the summer, for example, when you may spend more time out of doors.

If you are only watching Netflix for favourite series like The Crown, you could binge-watch new episodes when they come out and cancel the rest of the time.

If you want to save more in 2021, see if following these New Year's resolutions could save you up to £5,000 in the year.

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