On Wednesday, Netflix Inc increased subscription rates in Britain for millions of clients, while the online entertainment giant invested heavily in local content such as “The Crown”, “Sex Education” and “Top Boy.”
Netflix increased the price of the popular regular two-screen subscription by 1 pound to 9.99 pounds ($13.60) a month and 2 pounds to 13.99 pounds for the premium subscription.
On Wednesday, a Netflix spokesperson said, “We’re spending over $1 billion (736 million pounds) this year in the UK on new, locally made films, series and documentaries, helping to create thousands of jobs and showcase British storytelling at its best.”
This move comes as Britain recently entered another lockdown due to an increasing threat from the latest coronavirus variant, as individuals remain at home once again and opt for entertainment video streaming platforms.
Netflix hiked rates in the United States last October for its regular and premium streaming services, claiming they need to pay for investments.
Fundamental package payments for Netflix will continue at 5.99 pounds a month.