Netflix prices will gradually increase as more original content is commissioned, according to CEO Reed Hastings.
Shows like Orange Is The New Black, House of Cards, Daredevil and Breaking Bad-spinoff Better Call Saul have all been hits for Netflix, helping to differentiate the service from competitors.
The Get Down (pictured) is a Baz Luhrmann-directed and executive produced Netflix Original, set in the Bronx, New York in the 1970’s and due to arrive in 2016.
Speaking on investor call, Hastings said that while there will be no price rises for the next three months, the cost of Netflix would go up gradually over the next decade.
Recently, Netflix increased the cost of its Standard subscription, which lets you stream in up to 1080p Full HD on up to two devices simultaneously from £6.99/month to £7.49/month.
This 50p price rise only affects new customers – current subscribers won’t have to pay that new price until May 2016. When Netflix put its Standard rate up from £5.99/month to £6.99/month last year, original customers were given a 2 year grace period before the higher price kicked in.
Netflix is also looking into stopping customers from sharing passwords with friends. While Netflix profiles are useful for families, who may want to watch different shows at the same time, this also means that numerous people can watch while only paying once. It’s unclear on how Netflix could make this happen.
Customers who lack the bandwidth to stream shows in Full HD can opt for a the Basic subscription. This currently costs just £5.99/month, lets you stream standard definition content on one device at a time.
Aside from Basic and Standard subscriptions, there’s also Netflix Premium, which costs £8.99/month, supports up to four simultaneous streams and is required if you want to watch anything in 4K Ultra HD.
Minimum bandwidth requirements for Netflix content is 2Mbps for SD streams, 5Mbps for HD streams and 20-25Mbps for 4K Ultra HD content.