Netflix recently achieved a significant milestone by surpassing 300 million subscribers, thanks to one of its best quarters ever with nearly 19 million new subscribers. As a result, the streaming giant has decided to raise its prices to continue delivering quality content and investing in programming.
The ad-tier for Netflix will now cost $7.99/month, an increase of $1 from its previous price. The premium tier, on the other hand, will see a $2 increase to $24.99/month. The standard tier and the cost to add an additional member to your plan have also gone up, except for the ad-plan option for adding a member.
Here are the new price changes:
– Standard with Ads: $6.99 → $7.99
– Standard: $15.49 → $17.99
– Premium: $22.99 → $24.99
– Extra Member: $7.99 → $8.99
– Extra Member with Ads: $6.99 (no change)
In a quarterly letter to investors, Netflix stated, “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.” The price adjustments affect most plans in the U.S., Canada, Portugal, and Argentina, with the changes already factored into the 2025 guidance provided in October 2024.
Analysts anticipated a price increase based on Netflix’s previous projections and the industry trend of annual price hikes by other streaming services. Netflix had previously eliminated its Basic Plan, requiring subscribers on that tier to either switch to a higher tier or opt for ads.
With these changes in effect, Netflix aims to continue providing top-tier content and drive further growth in the streaming market. Stay tuned for more updates on Netflix’s offerings in the future.
Source link