Netflix Raises Prices in First Major Hike Since 2023

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Netflix is raising its prices once more. 

As a dedicated gamer, I’ve got some news that might affect my streaming budget. The streaming titan is bumping up the price of its standard ad-supported package to $7.99 per month in the U.S., which was previously $6.99. On top of that, the premium tier is going up by a cool $2, setting the new price at $24.99. So, my friends, if you’re on the standard plan like me, be prepared to shell out an extra couple of bucks each month, as it’s now $17.99 instead of the previous $15.49.

The cost of adding an extra member on a plan without ads is increasing to $8.99 from $7.99. 

Prices are being adjusted in various plans throughout the United States, Canada, Portugal, and Argentina. These changes become effective for new clients starting from Tuesday, while current clients will see these adjustments reflected in their upcoming bills.

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Changes in pricing are occurring across numerous plans in the U.S., Canada, Portugal, and Argentina. Beginning Tuesday, these modifications apply to new subscribers, whereas existing customers will notice them in their next billing statement.

For the first time since October 2023, Netflix has increased its prices for their ad-supported tier. Previously, the standard plan was priced at $9.99 per month in the U.S., but it was raised to $11.99 in October 2023. Similarly, the Premium plan went up from $19.99 to $22.99 during that same period.

Furthermore, Netflix is broadening the availability of its ‘Extra Member with Ads’ plan in ten out of the twelve countries that currently offer this ad-supported option, and it will continue to cost $6.99.

Netflix attributed the rise in their programming expenses as the primary cause for the recent price hike.

To keep enhancing the service we offer to our valued members, we might need to request an increase in fees on occasion. This is so we can reinvest and continue improving Netflix even more.

Netflix typically allocates around $17 billion annually for content production, with executives indicating this figure might stay relatively steady. Yet, it’s important to note that Netflix has also been diversifying its offerings by investing in live sporting events. For instance, they have supported the Mike Tyson and Logan Paul match, several NFL games on Christmas Day, and WWE’s weekly show ‘Raw’.

As a devoted fan, I’m thrilled to share that the latest update has me jumping for joy! Just like us loyal viewers, Netflix is soaring too – they added an unprecedented 19 million new subscribers in Q4 alone, taking their total to a staggering 302 million worldwide. To top it off, their revenue hit an impressive $10.2 billion, with an operating income of a mind-boggling $2.3 billion! It’s clear that Netflix continues to dominate the streaming world!

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2025-01-22 00:55