Netflix Hikes Prices Again Amid Record Subscriber Growth

Netflix has just hit a major milestone, once again surpassing 300 million global subscribers and setting new records in growth. The streaming giant reported a record-breaking quarter, ending the fiscal year 2024 with 302 million paid subscribers—an impressive increase of 19 million in Q4 alone and a full-year gain of 41 million. This marks one of the most successful years in Netflix's history in terms of subscriber expansion.

However, with this success comes another price adjustment. Just over a year after its last increase in 2023—and following similar hikes in 2022 and previous years—Netflix is raising the cost of most of its plans in select regions including the U.S., Canada, Portugal, and Argentina. According to reports from The Wall Street Journal and Bloomberg, the ad-supported tier will rise from $6.99 to $7.99 per month, the standard ad-free plan will increase from $15.49 to $17.99, and the premium tier will go from $22.99 to $24.99 monthly.

A New Plan Addition

In tandem with the pricing changes, Netflix has also introduced a new "extra member with ads" option. As reported by Bloomberg and The Wall Street Journal, this allows users on an ad-supported plan to add an additional viewer outside their household for an extra fee. Previously, the extra member feature was only available on standard or premium ad-free plans.

Growth and Investment Strategy

In its letter to shareholders, Netflix emphasized that these periodic price increases help fund continued investment in content and innovation. “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 company stated.

Strong Financial Performance

Financially, Netflix continues to perform robustly. For the final quarter of 2024, revenue rose 16% year-over-year to $10.2 billion, with annual revenue reaching $39 billion—also a 16% increase. Looking ahead, the company forecasts revenue growth between 12% and 14% for 2025, signaling confidence in its long-term strategy and expanding global footprint.