New York: Netflix will raise subscription prices in several countries, including the US, Canada, Argentina, and Portugal, after adding nearly 19 million new subscribers in the final months of 2024.
The price increases come as a result of successful programming, including the second season of Squid Game and high-profile events like the Jake Paul vs. Mike Tyson boxing match.
In the US, prices will rise across almost all plans, including the standard no-advert subscription, which will increase to $17.99 per month from $15.49. The membership with adverts will also rise by $1 to $7.99. This marks the second price hike in the US, following a similar increase in October 2023.
Netflix announced it finished 2024 with more than 300 million subscribers. The company had expected to add 9.6 million new subscribers between October and December, but surpassed that number.
It also stated that this would be the last time it reports quarterly subscriber growth and will instead announce paid memberships as key milestones are reached.
The company’s growing library of content includes the Squid Game series, the Paul vs. Tyson fight, and two NFL games on Christmas Day. Netflix will continue to broadcast live events, including WWE wrestling, and has secured rights to the FIFA Women’s World Cup for 2027 and 2031.
For the period between October and December, Netflix reported a net profit of $1.8 billion, a significant increase from the same period the previous year. Sales rose from $8.8 billion to $10.2 billion.
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