Earlier in January, streaming service Netflix announced a price hike in the United States and assured that users in the Asia Pacific will not be affected.
However, it recently announced a price hike in Singapore for all its subscription tiers, starting from 9 January 2020.
Netflix currently offers three different plan options, which vary in prices according to the quality of the image (standard, high or ultra-high) and the number of concurrent streams.
Its Basic plan (watch on one device at a time) will increase by $1 a month, up from $10.98 to $11.98.
Its Standard plan (watch on up to two devices at a time) will increase by $2 a month, up from $13.98 to $15.98.
Lastly, its Premium plan (watch on up to four devices at a time) will increase by $3 a month, up from $16.98 to $19.98.
All revised prices include taxes.
According to Netflix, this is its first price hike since its launch in Singapore in January 2016.
Leigh Wong, Netflix’s head of communications four South-east Asia added that this price increment will be used to reinvest in their shows as well as fund technology improvements.
Separately, Singapore has passed a new Bill which will introduce Goods and Services Tax (GST) to overseas digital services starting 1 January 2020.
This new law will affect overseas B2C services like “video streaming, apps, listing fees on electronic marketplaces, software, and online subscription fees” on platforms like Netflix, Spotify, and Airbnb.
It looks to bring in around S$90 million of tax revenue each year, and aims to “protect local retailers, who currently have to pay the tax, by levelling the playing field with overseas vendors”.
Featured Image Credit: VPNmentor
