Netflix in Taiwan raising fees by 7-18%

Taipei, Nov. 8 (CNA) Video streaming giant Netflix announced Friday that its subscription fees in Taiwan will increase by 7 to 18 percent, effective immediately.

According to Netflix, its monthly service plans -- Basic, Standard and Premium -- will cost NT$290 (US$9.02), NT$380 and NT$460, respectively, up from NT$270, NT$330 and NT$390.

Current Netflix subscribers will be notified of the fee hike one month before they pay the new rate and new members will be charged the new cost upon subscribing.

In a statement, Netflix said their "plans and prices may change" as they "add more TV shows and movies and introduce new product features."

Netflix said that it will continue investing in new programs and movies to prove the new subscription cost is still worth it.

In response to a CNA question about whether other places in Asia were set to see price hikes, the streaming giant said it has different pricing strategies for each country and region.

It added that price adjustments in Taiwan would not impact pricing in different places.