Netflix raises price in Europe

Netflix has raised the price of its service in Europe for new subscribers, upping the Eurozone price of the standard service from €8.99 (US$9.92) to €9.99 as of yesterday.

The standard offer allows subscriber to access HD content and view it on two devices. Netflix’s other two offers, the more basic ‘Essential’ tier, offering access via one device without HD, and its ‘Premium’ offering, providing content including 4K video on up to four devices, remain unchanged, at €7.99 and €11.99 respectively.

The increase currently only affects new customers, and the company guaranteed that its offer to existing subscribers will remain unchanged for a year.

In Switzerland, the company raised the price of its standard service from CHF12.90 (US$13.25) to CHF14.90.

In an email to subscribers, the company said that the price hike was necessary to ensure that the company was able to continue to add more new TV series and films to itsoffering.

Orange is the New Black platform Netflix faces intense competition from domestic SVOD services such as CanalPlay and Maxdome in Europe for local content rights.