Australia markets close in 3 hours 15 minutes

    -26.20 (-0.33%)
  • ASX 200

    -24.80 (-0.32%)

    +0.0001 (+0.02%)
  • OIL

    -0.41 (-0.52%)
  • GOLD

    +2.70 (+0.12%)
  • Bitcoin AUD

    -1,325.97 (-1.30%)
  • CMC Crypto 200

    +7.94 (+0.56%)

    +0.0004 (+0.07%)

    +0.0024 (+0.22%)
  • NZX 50

    -18.66 (-0.16%)

    +111.74 (+0.57%)
  • FTSE

    -51.81 (-0.63%)
  • Dow Jones

    -65.11 (-0.17%)
  • DAX

    -365.18 (-1.96%)
  • Hang Seng

    -140.51 (-0.78%)
  • NIKKEI 225

    -11.45 (-0.03%)

Aussies to pay more for Netflix

Netflix's Reed Hastings and Ted Sarandos raise their fists in front of the Netflix logo. (Source: Reuters)
Netflix says the extra revenue will be spent on creating new content. (Source: Reuters) (Kim Hong-Ji / Reuters)

Aussies, you have to now pay more for Netflix.

The world's number one streaming platform has hiked the price of its Australian subscriptions, as of November 11, 2021.

Fees on Netflix's standard and premium plans have been increased by up to $3 a month from the existing subscription fee.

Customers on the standard plan, which was increased to $15.99 a month in 2020, will now pay $16.99 a month.


The premium plan, which was hiked to $19.99 two years ago, will now cost $22.99 a month.

However, there will be no change in the basic plan, which costs $10.99 a month.

The only upside to this change is that existing customers have a breather before they start paying the new fee. It won’t apply to them for at least another week, but it will take effect in their next billing cycle after November 18.

Existing members will be notified through email with a 30-day notice before the bill reflects the change, the company said.

A woman poses for pictures next to a 4.5-metre tall replica doll from the Netflix series Squid Game with the Sydney Opera House in the background. (Source: Getty)
Netflix wants to invest more in creating shows and films for Australian audiences. (Source: Getty) (SAEED KHAN via Getty Images)

Why has the subscription fee been hiked?

Netflix said its main objective behind increasing the subscription fee was to make room to invest more in shows and films to suit Australian audiences.

According to Telsyte Australian Subscription Entertainment Study, 2021, Netflix - with 6 million followers - remained the top subscription video-on-demand (SVOD) service at the end of June, followed by Amazon Prime Video with 2.9 million, Disney+ with 2.6 million, Stan with 2.4 million and Kayo Sports with 1.1 million subscribers.

Clearly Netflix has left competitors way behind in the race and they're confident they won't lose subscribers with this move despite some expressing their disappointment on various online platforms.

But it's unlikely subscribers will cancel over a few extra dollars.

The streaming giant informed investors it would spend $US17 billion ($23 billion) on content in 2021, but the COVID pandemic has caused disruptions in content production.

How other streaming platforms compare

  • Apple TV+ : $7.99 a month

  • Amazon Prime Video: $6.99 a month

  • Disney+: $11.99 a month

  • Binge*: $14 a month for its standard plan

  • Stan: $14 month for its standard plan

  • Paramount+: $8.99 a month

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.

Yahoo newsletter banner
Yahoo newsletter banner