LOS GATOS, CA — Netflix announced on Tuesday that it’s raising subscription prices again.
The price of Netflix's standard plan will increase by $2.50, from $15.49 to $17.99 per month. This will be the first price increase for this plan in three years, with the last price change back in January 2022.
Netflix explained that this hike is “necessary to keep up with the rising costs of producing content and maintaining its service.”
The price changes were announced alongside Netflix's fourth-quarter earnings report, in which it gained a record milestone of 18.9 million new subscribers in the last quarter of 2024.
Along with the standard plan price increase, Netflix’s ad-supported plan will also see a price bump. The cost of this plan will go up by $1, from $6.99 to $7.99 per month.
Netflix’s Premium plan will also increase by $2, from $22.99 to $24.99 monthly.
In addition to the price hikes, Netflix announced it is raising the cost of adding an extra user to a primary account. The fee for an extra member will rise from $7.99 to $8.99 per month. After Netflix began cracking down on password sharing, executives said it would help boost the number of paying customers.
Netflix is raising prices in several other countries, including Canada, Portugal, and Argentina.
With these price increases, the streaming giant will probably face some customer pushback.
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