Martin Lewis shares warning over new Netflix price hike for Brits

Martin Lewis has warned that Netflix bills are set to go through the roof as another round of price hikes was announced.

The streaming giant has delivered another financial blow to box set loving Brits by increasing their subscription fees again.

The latest markups that have been introduced will affect those who are currently on the basic and premium plans.

Can't they just let us watch Gossip Girl for the 100th time in peace?

The cost of Netflix's basic tier will rise by £1 per month, meaning £7.99 will now be taken from your bank account instead.

It's a 14 percent increase on the previous price and it will set subscribers back an extra £12 each year.

Those forking out for the premium plan will now have to pay £17.99 a month, as the fee has been increased by £2.

Tuning into your favourite shows in Ultra HD with the option to use four devices at a time will now see people stump up an extra £24 per year. Ouch.

Subscribers who are currently on a standard plan can breathe a sigh of relief, as they're safe from the price hike.... for now.

But if you're worried about your wallet taking a hit due to the climbing costs, Martin Lewis has some words of wisdom.

Getty stock image

Don't fear, the Money Saving Expert is here - with some handy hacks to save some cash as the Christmas period approaches.

Taking to Twitter, now known as X, he said: "Netflix to hike prices by up to £24 a year for some - here's what's happening."

He posted a link to his Money Saving Expert site, where he shared some cost-effective suggestions for Brits.

Firstly - and most obviously - you can consider switching to a cheaper subscription tier.

The advice read: "If you're paying for premium and you don't stream on four screens or download on six devices, it may be worth switching to a standard plan to save £7 a month."

But if you just can't bring yourself to say goodbye to the premium plan, consider buddying up with someone instead.

ITV

Martin's guide to beating the expensive streaming costs suggested sharing an account with a friend of family member that lives with you.

It said: "The standard Netflix plan without adverts lets you watch on two screens at once – and you don't have to be watching the same thing.

"Getting one subscription and splitting the cost with someone else means that you'll both only pay £5.50 a month for ad-free, HD streaming.

"If you live with two or three others who use Netflix, you can save even more by splitting the premium plan – now £17.99 a month – and paying £6 a month or £4.50 a month each. You'll be able to watch in ultra HD, too."

We can always count on Martin for some tips and tricks to save a few quid.

Topics: Martin Lewis, Money, Netflix, TV and Film, UK News

Olivia Burke

Olivia is a journalist at LADbible Group with more than five years of experience and has worked for a number of top publishers, including News UK. She also enjoys writing food reviews (as well as the eating part). She is a stereotypical reality TV addict, but still finds time for a serious documentary.

@livburke_