Netflix to raise prices across the board for every US subscriber
Netflix has announced a price hike for its US customers, which includes the first increase for the advertisement-supported tier introduced in November 2022.
Back then, the advertisement-supported tier was announced at $6.99 per month, but it has now been increased to $7.99. The advertisement-free tier, which was previously $15.49, is jumping up to $17.99, and the premium tier will go from $22.99 per month to $24.99. This is Netflix’s first price hike since October 2023, when the streaming giant removed its basic tier for new subscribers and first increased the premium plan to $22.99.
This price increase will apply to US customers, as well as those in Canada, Argentina and Portugal. When a Netflix spokesperson was asked if this meant a similar increase was on the way for UK subscribers, they replied “nothing to share right now.”
In its latest shareholder newsletter, the winner of the streaming wars said, “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.”
In the same letter, Netflix announced that its subscriber numbers shot up by 18.9 million in the fourth quarter of 2024, bringing the global total to 300 million. This boon in subscribers doubled the expectations Wall Street had for the quarter, although the streaming giant tempered its victory slightly by revealing its operating costs have broken the $10 billion mark for the first time.
The massive jumps in both subscribers and operating costs can likely be put down to Netflix’s recent efforts in the live events market. The streamer enjoyed huge successes with its Jake Paul vs Mike Tyson boxing event and the two NFL games it showed on Christmas Day, while its 10-year deal worth $5 billion with WWE recently got underway at the start of January 2025.