Why have Netflix increased their price?

Netflix is about to get more expensive. The streaming company is raising prices for UK subscribers by as much as 20 per cent, with the cost of the most popular standard plan increasing by £1 to £8.99 per month, and a premium plan going up by £2 to £11.99. The cheapest basic plan, which allows only standard definition viewing on a single device, remains unchanged at £5.99 per month.