Netflix will raise prices in several countries following the addition of nearly 19 million subscribers in late 2024. The streaming service announced the price increases for the US, Canada, Argentina, and Portugal on January 22, 2025, as it reported better-than-expected subscriber growth driven by popular content.
- Netflix raises prices in multiple countries.
- Nearly 19 million new subscribers added.
- US subscription costs increase across plans.
- Last price hike in the US was October 2023.
- Net profit doubled to $1.8 billion.
- Netflix to broadcast more live events.
Netflix’s decision to increase prices comes after it reported a total of over 300 million subscribers, significantly exceeding its expectations of 9.6 million new subscribers between October and December 2024. The surge in subscribers was attributed to the success of the second season of the South Korean drama “Squid Game” and high-profile sports events, including a boxing match featuring Jake Paul and Mike Tyson.
The upcoming price increases will affect nearly all subscription plans in the US. The standard subscription without ads will rise from $15.49 to $17.99 per month, while the ad-supported membership will increase by one dollar to $7.99. This marks the second price increase in the US since October 2023, when Netflix also raised costs for some plans in the UK.
- US standard subscription (no ads): $17.99 (up from $15.49)
- US ad-supported membership: $7.99 (up by $1)
- Netflix’s net profit for Q4 2024: $1.8 billion (doubling from the previous year)
- Sales for the same period: rose from $8.8 billion to $10.2 billion
Netflix plans to continue investing in its content offerings, which include live events and sports programming, as it aims to maintain its competitive edge in the streaming market. The company will no longer report quarterly subscriber growth but will announce paid memberships as it reaches significant milestones.
In summary, Netflix’s price increases reflect its recent subscriber growth and ongoing investment in diverse programming. The changes are part of the company’s strategy to enhance its offerings and maintain its leadership in the competitive streaming landscape.
