Netflix is raising its prices yet again. Starting today, the most affordable plan will be priced at $7.99 per month, while the premium plan offering 4K streaming will now cost $24.99 monthly.
Netflix’s recent price hike
Here are the specifics of the new Netflix price hike, which affects all three available plans:
- Standard with ads: $7.99 (previously $6.99) per month
- Standard without ads: $17.99 (previously $15.49) per month
- Premium: $24.99 (previously $22.99) per month
The price adjustments will impact subscribers in the United States, Canada, Portugal, and Argentina.
In a letter sent to shareholders today, Netflix indicated that the price increase will support ongoing investments in content:
As we continue to enhance our programming and provide greater value to our members, we may occasionally request our members to increase their payments to help us reinvest in further improvements at Netflix. Accordingly, we are making price adjustments today for most plans in the US, Canada, Portugal, and Argentina.
This latest price increase coincides with the announcement of impressive earnings for Q4 2024. The streaming platform added 18.9 million new subscribers during this quarter, surpassing the analyst expectations of 9.6 million. Netflix now boasts an incredible 302 million paid subscribers globally.
Additionally, Netflix reported revenues of $10.25 billion, exceeding estimates of $10.11 billion. Earnings per share were recorded at $4.28, compared to the anticipated $4.20. The company has also announced a $15 billion share buyback initiative.
The last price increase occurred in October 2023, when the Premium tier rose from $19.99 to $22.99. Shortly after, Netflix phased out the popular ad-free Basic subscription, effectively raising the minimum cost for an ad-free experience from $11.99 to $15.49 per month (and now to $17.99 with the latest increase).
For your reference, here’s what each Netflix plan includes:
Standard with ads:
- Ad-supported, with access to all mobile games and most movies and TV shows. Titles not available will have a lock icon.
- Viewing allowed on 2 supported devices simultaneously
- Streaming available in 1080p (Full HD)
- Downloadable on 2 supported devices at once
Standard without ads:
- Unlimited ad-free access to movies, TV shows, and mobile games
- Viewing allowed on 2 supported devices simultaneously
- Streaming available in 1080p (Full HD)
- Downloadable on 2 supported devices at once
- Ability to add 1 additional member who lives separately
Premium:
- Unlimited ad-free access to movies, TV shows, and mobile games
- Viewing allowed on 4 supported devices simultaneously
- Streaming available in 4K (Ultra HD) + HDR
- Downloadable on 6 supported devices at once
- Ability to add up to 2 extra members who live separately
- Access to Netflix spatial audio
Are you still a Netflix user? How much are you willing to pay for the subscription? Share your thoughts in the comments.
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