Netflix Australia subscriptions are copping a price increase

Source company's earnings report

Source company's earnings report

Netflix Australia has announced it's hiking up the price for premium subscribers, which... uh... does not annoy me too much, as the headline gives away. So on the premium plan, you can stream Netflix on four devices, and download them on four devices as well.

"Our basic and standard memberships will remain at the same price, ensuring as many people as possible can enjoy our content".

After a rare domestic subscriber loss in the second quarter, Bank of America analyst Nat Schindler said investors will be watching Netflix's subscriber numbers closely when the company posted results on October 16.

Shares of Netflix are now up less than 1% year-to-date.

Thankfully, if you're subscribed to Netflix's Basic or Standard plans, you won't have to pay anything extra at this time.

That 2017 increase also absorbed government changes which required Netflix to charge GST on digital products. Foxtel and Netflix now all in one place.

Netflix Australia told Business Insider Australia that existing members on the premium plan will be notified via email and in the Netflix app a month before the new price is applied to them. Disney is taking back its Star Wars, Marvel and Pixar movies; NBCUniversal took back to "The Office", which is the most popular series on Netflix; and HBO Max took back "Friends", which is the second most popular series on Netflix.

'Our survey suggests that the majority (~75%) of Netflix subscribers do not intend to subscribe to either Disney+ or Apple TV+. Disney+ has only one pricing tier at $8.99 a month.

Australian Netflix users are set to be hit by a price hike, with premium subscription prices raised as of today.

Olson, who has the highest price target out of any major-bank analyst that's published research in the past month, said Netflix's current share price already reflects the risks from new competition.

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