New Netflix subscribers face fee hikes and streaming limits
Published 10/05/2014 | 02:30
ONLINE movie-streaming service Netflix has announced a series of price rises and new limitations on how subscribers can use the service.
Netflix, which has an estimated 175,000 Irish Irish customers, is raising the price of its existing service to €9 per month, up from €8 per month.
The company is also introducing a new budget €8 per month service without high definition streaming and which is limited to a single viewing 'stream'.
The price rises only affect new customers, with existing customers keeping their current price tariffs until early 2016.
The company says that it is doing this to help fund new content on the service, including its own original series.
This year, Netflix has aired several own-made programmes, including House Of Cards and Orange Is The New Black.
Netflix recently reported a higher profit for the quarter that ended in March, boosted by the addition of 2.25 million customers to its movie and TV streaming service in the United States.
The company's net profit for the quarter reached $53m (€38.4m), Netflix said, an increase from $3m (€2.2m) a year earlier.
Netflix is trying to limit the effects of account-sharing. Its new basic package, expected to be the most widely used, only allows one stream at a time.
Two simultaneous streams will cost €9 per month. For large families, there's a €12-per-month option that allows four simultaneous streams.