Netflix announced it is raising prices for its subscribers. in the United States, Canada, Portugal and Argentina.
The price hikes were announced Tuesday during Netflix’s 2024 earnings results, which saw the company report 19 million new subscribers a quarterly record.
There’s no change in the fees to add an extra member.
The new prices take effect immediately for new subscribers, while existing members will see the change on their next bill. A letter to shareholders says the increase is due to programming investments.
Netflix says it’s also changing fees across most plans in the United States, Portugal and Argentina.
The cheapest Standard with ads plan will be $1 more expensive in the U.S., going from $6.99 to $7.99 per month. The Standard plan’s price will increase from $15.49 to $17.99 per month, and the Premium plan will now cost $24.99 per month, up from $22.99 per month.
In addition to the price hike, Netflix is introducing an Extra Member with Ads plan. This option allows subscribers on ad-supported plans to add someone outside their household for $7.99 per month, aligning with its existing Extra Member feature for ad-free plans.
On Tuesday In a statement, a spokesperson for Netflix said We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members. We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options, As always we offer a range of plans so members can pick a price that works for their budget.
