Netflix is increasing its subscription prices once again. Effective today, the most affordable Netflix plan will be $7.99 per month, while the premium plan featuring 4K streaming is set at $24.99 per month.
Netflix’s latest price adjustments
Here are the specifics of the recent price hike affecting all of Netflix’s plans:
- Standard with ads: $7.99 (up from $6.99) per month
- Standard without ads: $17.99 (up from $15.49) per month
- Premium: $24.99 (up from $22.99) per month
This price change impacts users in the United States, Canada, Portugal, and Argentina.
In a letter to shareholders today, Netflix articulated that the price increase will enable continued investment in original programming:
As we persist in our investment in content and aim to deliver additional value for our members, we will periodically need to ask our subscribers for a bit more, allowing us to re-invest for further enhancement of Netflix. Accordingly, we are adjusting prices today across most plans in the US, Canada, Portugal, and Argentina.
This latest price adjustment coincided with Netflix announcing significant earnings for Q4 2024. The streaming platform welcomed 18.9 million new subscribers during the quarter, surpassing analyst predictions of 9.6 million additions, bringing the total to an impressive 302 million paid subscribers worldwide.
Netflix reported revenue of $10.25 billion, exceeding expectations of $10.11 billion, with earnings per share at $4.28, compared to the anticipated $4.20. Additionally, a $15 billion share buyback program was declared.
The last price increase occurred in October 2023, when the Premium tier price rose from $19.99 to $22.99 monthly. Shortly after that, Netflix discontinued its highly sought-after ad-free Basic subscription, effectively raising the price for anyone desiring an ad-free experience from $11.99 to $15.49 per month, which is now $17.99 after today’s hike.
To recap, here’s what each Netflix plan offers:
Standard with ads:
- Ad-supported with access to all mobile games and most films and shows; titles that are unavailable will feature a lock icon.
- Stream on 2 supported devices simultaneously
- Available in 1080p (Full HD)
- Download on 2 supported devices concurrently
Standard without ads:
- Unlimited ad-free access to movies, TV shows, and mobile games
- Stream on 2 supported devices simultaneously
- Streaming quality up to 1080p (Full HD)
- Download on 2 supported devices concurrently
- Option to add one extra member not residing with you
Premium:
- Unlimited ad-free access to movies, TV shows, and mobile games
- Stream on 4 supported devices simultaneously
- Available in 4K (Ultra HD) + HDR
- Download on 6 supported devices at once
- Option to add up to two extra members who do not live with you
- Includes Netflix spatial audio
Are you still a subscriber to Netflix? What price are you willing to pay for the service? Share your thoughts in the comments below.
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