Netflix Announces Price Hikes for Next Billing Cycle

Netflix building

Netflix Announces Price Hikes for Next Billing Cycle

Netflix building

Staff

Netflix is increasing subscription prices across most plans in the United States, Canada, Portugal, and Argentina, according to its latest earnings report. The ad-supported tier will rise from $6.99 to $7.99 monthly, while the standard ad-free plan will jump from $15.49 to $17.99. The premium tier is also seeing a two dollar increase, moving from $22.99 to $24.99. The new rates will take effect during subscribers’ next billing cycles.

A Netflix spokesperson cited the price adjustments as a way to enhance content offerings and maintain the platform’s value. This marks the first price hike for the ad-supported tier since its 2022 debut.

Despite the increases, Netflix reported its most successful quarter yet, adding 19 million new subscribers and pushing its global total to 300 million. The company also posted over $10 billion in operating income for the first time. Netflix executives emphasized the platform’s growth potential, noting that it accounts for less than 10% of TV viewing in its available markets.

The streaming giant also introduced a new Extra Member with Ads plan, allowing ad-supported subscribers to add someone outside their household for an additional $7.99 monthly. Previously, only ad-free plans offered this option.

Netflix’s robust content lineup, including new seasons of Squid Game and Arcane, contributed to its strong 2024 close. The company has also expanded its live content strategy, delivering high-profile events like NFL games featuring performances by Beyoncé and Mariah Carey. Though Netflix has no plans to acquire regular season sports rights, its focus on special event programming has garnered significant attention.

The platform’s live events, including a record-breaking boxing match and a successful WWE debut with Monday Night Raw, highlight its evolving approach to audience engagement. As Netflix continues to invest in its programming, the company is banking on subscribers to support its long-term growth strategy.

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