Netflix is once again raising prices. In its latest earnings report released Tuesday, the streaming giant announced adjustments to prices across most plans in the US, Canada, Portugal, and Argentina.
A Netflix spokesperson, MoMo Zhou, informed The Verge that the ad-supported tier will see an increase from $6.99 to $7.99 per month. The standard ad-free tier will rise from $15.49 to $17.99, while the premium tier will increase from $22.99 to $24.99 per month. These price hikes will take effect during subscribers’ next billing cycle, according to Zhou.
“As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix,” the company stated in its letter to investors. Netflix last raised its subscription price in October 2023, marking the first price increase for the ad-supported plan since its launch in 2022.
Recently, Netflix added 19 million new subscribers, the highest in its history during a single quarter, bringing its total to 300 million. This marks the last time Netflix will disclose subscriber additions for the quarter, as the company announced last year that it would only reveal major milestones starting in the first quarter of 2025.
Despite reaching record highs in subscriber counts and operating income exceeding $10 billion for the first time, Netflix executives believe there is still ample room for growth. The company’s letter mentions it represents less than 10 percent of TV viewing in its available countries, indicating a significant potential for expansion as streaming continues to evolve globally.
In conjunction with the price increase, Netflix revealed a new Extra Member with Ads plan, which allows those on the ad-supported plan to add an extra member outside their household for an additional fee. Currently, it costs $7.99 per month to add someone outside your household to an ad-free plan.
In 2024, Netflix concluded the year with a compelling content lineup, featuring new seasons of Squid Game and the League of Legends spinoff Arcane.
Netflix’s approach to live content has also intensified over recent weeks, transitioning from airing “sports-adjacent” events, such as a golf tournament featuring PGA players and Formula One drivers, to full-scale NFL games with performances from stars like Beyoncé and Mariah Carey. However, Netflix emphasizes that its live strategy does not focus on acquiring rights for extensive regular season sports packages; instead, it aims to deliver must-see special event programming.
Despite experiencing some technical issues, the streamer also reported record-breaking viewership for last year’s live boxing match between Mike Tyson and Jake Paul, and its WWE debut with Monday Night Raw gained 4.9 million views, according to The Hollywood Reporter.
Update, January 21st: Added information from Netflix.
