Netflix has raised subscription prices for most plans in the US, Canada, Portugal, and Argentina, according to a report by The Verge.
The subscription prices for the ad-supported tier will increase from $6.99 to $7.99 per month, while the standard ad-free tier will go from $15.49 to $17.99 per month, according to the report which cited Netflix spokesperson MoMo Zhou.
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Netflix's premium tier prices will also rise from $22.99 to $24.99 per month.
All these new prices will go into effect during the subscribers’ next billing cycle.
“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 report quoted the company’s letter to investors as saying.
The last time Netflix raised subscription prices was in October 2023 and this time is also the first time the streaming giant is raising the price of its ad-supported plan which was rolled out in 2022.
{{/usCountry}}The last time Netflix raised subscription prices was in October 2023 and this time is also the first time the streaming giant is raising the price of its ad-supported plan which was rolled out in 2022.
{{/usCountry}}The price rise comes despite the platform getting 19 million more subscribers over the last few months alone, bringing the total to 300 million.
Its operating income also went past $10 billion for the first time, according to the report.
Apart from the price hike, Netflix also announced it would bring out a new Extra Member with Ads plan, allowing those on the ad-supported plan to add someone outside their household to their subscription.
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Netflix ended 2024 with its content lineup including new seasons of Squid Game and the League of Legends spinoff Arcane. It also aired “sports-adjacent” events like a golf tournament that paired PGA players with Formula One drivers to full NFL games featuring performances from Beyoncé and Mariah Carey, according to the report.
This is apart from it getting “record-breaking” viewership numbers for the Mike Tyson vs Jake Paul boxing match as well.