Netflix raises prices of its subscription plans

Netflix users in the US, Canada, Portugal, and Argentina will have to pay more for their streaming subscription.

Slightly more than a year after hiking the prices of its subscription plans, Netflix announced another price increase in a letter to investors.

The company’s plan, which allows watching content without ads, is increasing from $15.49 up to $17.99 a month, while the cheapest ad-supported Standard plan will now cost $7.99.

The Premium plan, which supports 4K content streaming, has increased from $22.99 to $24.99.

“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. To that end, we are adjusting prices today across most plans in the US, Canada, Portugal and Argentina,” Netflix said.

The letter to investors didn’t specify the exact prices. However, the company later confirmed the price increase to several news outlets, including Bloomberg.

Netflix last increased its subscription prices in October 2023, when the Premium plan went from $19.99 to $22.99.

In the letter to investors, Netflix claims that in the last quarter, it added 19 million new subscribers and now has 302 million overall.

The company attributes the success to several top-performing shows, including Squid Game season 2, the movie Carry On, and the fight Jake Paul vs. Mike Tyson, which became the most streamed sports event in the world.

In the Q4 of 2024, the company’s revenue grew by 16% to just over $10,2 billion. This year, Netflix expects to grow revenue by 12%-14%