Netflix was in the news again this month after announcing it would raise prices for millions of customers in Britain.
On October 18, the cost of Netflix’s cheapest ad-free tier rose by £1 to £7.99/month, while the most expensive tier was increased to £17.99.
This price increase came just weeks after two shows helped the platform score record viewership.
The first episode of ‘Beckham’, released on October 4, in which Posh and Becks reflect on their early romance and marriage, family life and David’s glittering football career, netted Netflix a whopping 3.8 million viewers in Britain.
Meanwhile, the first episode of ‘Harry & Meghan’, which was released in December last year and charts the events leading to the Duke and Duchess of Sussex’s release from the royal family, attracted a whopping 2.4 million viewers.
According to the Broadcasters Audience Research Board (Barb), the first episode of Harry & Meghan was viewed 2.4 million times in the UK on its first day on Netflix, while the second episode registered 1.5 million. Meanwhile, the first episode of ‘Beckham’ had 3.8 million UK viewers in less than a week since its release, while the second recorded 2.8 million viewers, Barb said. Note that these ratings are not a direct comparison (“Beckham” ratings are for the first five days since release; “Harry & Meghan” ratings are for the day of release)
In the UK, Netflix’s cheapest ad-free tier (Basic) has increased by £1, from £6.99 to £7.99, while the most expensive tier (Premium) has increased by £2, from £15.99 to £ 17.99. The other two levels are unchanged. It’s worth noting that Netflix’s Basic plan is no longer available to new members or new members, but if you’re currently on the Basic plan, you can continue using this plan until you switch plans or cancel your account, Netflix says.
According to the Broadcasters Audience Research Board (Barb), the first episode of Harry & Meghan was viewed 2.4 million times in the UK on its first day on Netflix, while the second episode registered 1.5 million.
In total, the first episode of Harry & Meghan was watched by an average of 4.5 million people in the first week after release, Barb also revealed last year.
Meanwhile, the first episode of ‘Beckham’ had 3.8 million UK viewers in less than a week since its release, while the second recorded 2.8 million viewers, Barb said.
While these are big numbers, Barb’s figures only apply to Britain and only count streams from TVs – not phones, tablets or laptops – so total global viewing figures will be even higher.
It’s worth noting that Netflix raised its prices just two weeks after the four-part Beckham series debuted.
However, Ben Barringer, technology analyst at Quilter Cheviot, told MailOnline that he doesn’t think this was a devious tactic by the company to make money during the wave of interest in the series.
“The price increase in mid-October will not be specifically timed to the release of the David Beckham documentary, but it certainly will not harm the company,” Barringer said.
This graph visualizes the overall change in the number of Netflix subscribers worldwide over the past 18 months. In the second quarter of 2022 (the period between April and June 2022), Netflix lost 970,000 subscribers worldwide, but the numbers have increased since then
Time will tell if ‘Beckham’ can break into the list of Netflix’s top 10 most-watched shows worldwide
In the six-part docuseries Harry & Meghan, the Duke and Duchess of Sussex (pictured) describe their experiences that led to their decision to step back from British royal duties and make a fresh start in the US.
“Ultimately, while the Beckham brand still exists and will drive subscribers to the platform, Netflix needs to keep them there and does so by investing in its content.”
It was in April 2022 that Netflix revealed it had lost subscribers for the first time in more than a decade.
Between January and March last year, Netflix’s total number of users fell by 200,000, due to the war against Ukraine and increased competition from the likes of Disney+, Hulu and HBO.
But the next quarter things got even worse; between April and June 2022, it recorded a total subscriber loss of almost one million.
More and more viewers were canceling their accounts due to additional factors, including the cost of living crisis and concerns about a “lack of content.”
Fortunately for the streaming giant, it has only gained subscribers rather than losing them since then, and the Harry & Meghan series has undoubtedly played a role.
Interestingly, Netflix gained a total of 7.7 million subscribers in the fourth quarter of 2022, between October and December last year – the period in which Harry & Meghan was released.
An expert said Netflix is now ‘firing on all cylinders’ and ‘got its mojo back’ after losing subscribers
For its most recent quarterly results, for the three months of July and September 2023, Netflix reported impressive subscriber growth of 9 million, partly due to its lucrative crackdown on password sharing.
But the effect the Beckham documentary has had on the number of Netflix subscribers remains to be seen – and also how this might be affected by the recent price increases.
Many subscribers could leave if they find £7.99 too much to pay for ad-free content during a cost-of-living crisis.
Netflix will announce subscriber figures for the fourth quarter of 2023 (October to December) as part of its quarterly results presentation in January.
Paolo Pescatore, analyst at PP Foresight, said Netflix is now “firing on all cylinders” and has “got its mojo back” after losing subscribers.
‘While there may be a boost from the Beckham effect, this could hamper the next few quarters – hence the importance of diversification and releasing new titles,’ Pescatore told MailOnline.