Netflix has announced a price hike for new and existing members in the UK and Ireland.

In the UK, the basic and standard plans will both increase by £1 a month to £6.99 and £10.99 respectively, while the premium tier will go up by £2 to £15.99.

The basic plan in Ireland will increase by one euro, while the standard and premium subscriptions will go up by two euros each.

Existing subscribers will be notified by email 30 days before the change comes into effect, depending on their specific billing cycle.

The increase is immediate for new members.

Netflix is home to some of the world’s biggest shows such as The Crown, Stranger Things and Bridgerton.

The streaming giant said the increase would allow it to “continue investing in best in class UK productions” and “offer a wide variety of curated quality shows and films”.

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A spokesperson said: “We have always been focused on providing our members both quality and clear value for their membership.

“Our updated prices reflect the investment we have made in our service and catalogue, and will allow us to continue making the series, documentaries and films our members love as well as investing in talent and the creative industry.

“We offer a range of plans so members can choose a price that works best for them.”

Earlier this week, Netflix suspended its streaming service in Russia in protest at the country’s invasion of Ukraine.

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