In a number of nations, including the US, Canada, Portugal, and Argentina, Netflix has raised the cost of its subscriptions. This is the first price increase for the ad-supported tier since it was introduced in 2022, and it will take effect on January 21, 2025.

Netflix Price Increase’s Specifics

The following is the new pricing structure in the US:

• The monthly cost of the Ad-Supported Plan was raised from $6.99 to $7.99.
• The monthly cost of the Standard Plan was raised from $15.49 to $17.99.
• The monthly price of the Premium Plan was raised from $22.99 to $24.99.

Furthermore, the price of adding a new member to a plan has increased by $1. Ad-free plans now cost $8.99 per month, while the ad-supported option is still $6.99.

Justification for the Increase

Netflix ascribes this price change to its continuous content investment and endeavors to provide its subscribers with more value.

According to a statement, “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.“

The Effect on Subscribers

The next billing cycle for each subscriber will see the implementation of the new pricing. This move, which follows a price increase in October 2023, highlights Netflix’s plan to periodically modify subscription fees in accordance with its service improvements and content expansion.

Growth in Subscribers Worldwide

Netflix reported a notable rise in its global subscriber base in spite of the price increases. In the fourth quarter of 2024, the company added 19 million new subscribers, increasing its global total to over 300 million.

The success of well-known shows like “Squid Game” Season 2 and exclusive events like the Jake Paul vs. Mike Tyson fight are credited with this expansion.

Possible Consequences for Other Markets

Although certain countries are impacted by the current price increases, analysts predict that other markets, including the UK, may soon undergo comparable changes.

In the past, Netflix has adjusted its prices in the US before doing the same in the UK. It is recommended that users keep up with any changes to the price of their subscriptions.