Netflix plans to increase prices in several countries following a surge of nearly 19 million new subscribers in the last months of 2024.
The streaming company plans to raise subscription prices in the United States, Canada, Argentina, and Portugal.
“We will occasionally ask our members to pay a little more so that we can re-invest to improve Netflix further,” it said.
Netflix reported subscriber numbers that exceeded expectations, driven by the second season of the South Korean drama Squid Game and sports events like the boxing match featuring influencer-turned-fighter Jake Paul against former world heavyweight champion Mike Tyson.
In the US, prices are set to rise for nearly all plans, including the ad-free standard subscription, which will now be $17.99 (£14.60) per month, up from $15.49.
The membership with ads will also increase by one dollar, bringing the price to $7.99.
Netflix last raised prices in the US in October 2023, when it lifted costs for some plans in the UK.
When asked if prices were set to increase in the UK, a spokesperson for Netflix said there was “nothing to share right now.”
Meanwhile, the company announced it had reached over 300 million subscribers last year. Although it was projected to gain 9.6 million new subscribers from October to December, it significantly exceeded that expectation.
On Christmas Day, Netflix streamed two NFL games besides Squid Game and the Paul vs. Tyson fight.
It will also stream more live events featuring WWE wrestling and has secured the rights for the FIFA Women’s World Cup in 2027 and 2031.
Paolo Pescatore, a technology analyst at PP Foresight, said Netflix “is now flexing its muscles by adjusting prices given its far stronger and diversified programming slate compared to rivals.”
