Netflix Announces Price Hike in Multiple Countries
Netflix announced on Tuesday a price increase for its subscription plans in several countries, including the United States, Canada, Portugal, and Argentina.
The ad-supported tier will see a $1 increase, rising from $6.99 to $7.99, the standard tier will increase from $15.49 to $17.99, and the premium tier will rise by $2, going from $22.99 to $24.99, according to reports from CNBC and Variety.
This decision comes after a record growth of nearly 19 million subscribers in the fourth quarter of 2024, bringing the total to 302 million paying subscribers.
The platform justifies this price hike by the need to reinvest in its catalog and improve its service.
Netflix has also highlighted the success of its programming, including the second season of Squid Game, which could become its most-watched series, as well as its first steps into sports with events like the Jake Paul vs. Mike Tyson fight.
In 2024, Netflix's revenue increased by 16%, exceeding $10 billion in operating profit for the first time. The company's stock surged by over 14% in after-hours trading, reaching $995.30. With an adjusted pricing strategy and solid programming, Netflix reinforces its position as the leader in streaming.
