Netflix is getting more expensive in the US and several neighboring countries again. The streaming service will hike its prices despite a healthy addition of 18.9 million new subscribers in Q4 2024.
The streaming service last hiked its prices in October 2023. However, since the pandemic, Netflix has increased its subscription prices several times.
Time to pay more for Netflix, again
As part of the latest price hike, Netflix’s cheapest ad-supported tier will cost $7.99 per month, up from $6.99. That’s the same price Netflix initially launched its streaming service for. The Standard plan without ads sees a bump from $15.49 to $17.99 per month.
Lastly, the Premium tier, which allows for 4K streaming across 4 screens simultaneously, is getting more expensive by $2 and will cost $24.99 every month.
“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,” said the streaming service in its latest quarterly earnings call.
Besides the US, Netflix is raising prices in Canada, Portugal, and Argentina. The changes will take effect for existing subscribers starting with the next billing cycle.
Netflix had a record Q4 2024
The price hike comes despite Netflix adding 18.9 million new subscribers in a quarter — the largest ever in its history. The streaming service now has over 300 million subscribers globally.
One positive update from Netflix is that you can now add an extra member outside your household to the ad-supported tier. Previously, you could only purchase extra seats on the Standard ad-free and higher tiers.
In 2024, Netflix tightened its policies on password-sharing, requiring users who used their friends’ or family members’ accounts to pay for their seats.
Compared to Netflix, Apple TV+ has only raised its prices twice in the last few years. The last price bump happened in October 2023, when Apple increased its monthly subscription from $6.99 to $9.99.
