Netflix hikes prices up to 19 percent

epa05111098 (FILE) A file picture dated 20 August 2015 of an exterior view on the Netflix Corporate headquarters in Los Gatos, California, USA. Netflix is to release their 4th quarter 2015 results on 19 January 2016.  EPA/JOHN G. MABANGLO *** Local Caption *** 52133527  EPA/JOHN G. MABANGLO   
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Kiwi movie and series lovers have been dealt a blow after discovering the price of Netflix subscriptions have hiked.

The change in price follows the introduction of GST to online streaming services in 2016.

But the price has hiked again, with its standard service rising from $14.99 to $16.99.

A premium subscription has hiked 19 percent at $21.99.

The price rise means its standard service now costs $4 more than Lightbox. Sky's Neon TV remains more expensive than both at $20 for movies and TV shows.

It comes after Netflix shares dropped nearly 12 percent last month. The company added just 2.83 million international paid streaming subscribers, compared with street expectations of 4.8 million. 

Netflix, which has 151.6 million customers, raised prices in Britain, Switzerland, Greece and Western Europe in the quarter, with New Zealand now taking the hit.

Newshub / Reuters