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Netflix FREEZES prices for existing UK users to stop them quitting vid-streaming service

Hikes monthly subscription for newbies, though

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Netflix is hoping to retain its UK subscriber base by fixing its price tag for existing customers for two years, in a move designed to stop them abandoning the video-streaming service and its relatively small catalogue of films and TV shows.

Meanwhile, the company has jacked up its prices to £6.99 for newcomers in Blighty.

Brits who are already signed up to Netflix will continue to be charged £5.99 per month, said the Californian firm, which was founded in 1997.

Fans of the piping service typically binge on telly boxsets as well as original programmes produced by Netflix's network.

On 6 June, for example, the second season of punchy prison drama Orange Is the New Black will be made available in full to the company's customers.

"Price is guaranteed so long as you remain a member on your current plan," Netflix said. Translation: don't abandon us. Please.

The firm, which claims to have 48 million subscribers worldwide, has previously acknowledged it had "a continuous ebb and flow of titles" on its service. The company is bound by licensing rules relating to television and film rights that expire after a certain time. In January, it culled 500 titles from its UK list.

It's one of the reasons why Netflix creates homegrown TV shows, such as Kevin Spacey vehicle House of Cards on its network. That strategy helps to entice people to subscribe to the service, even if they are left a little forlorn and sore after yet another binge. ®

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