Netflix
Netflix, the world’s leading streaming platform, has announced price increases across multiple countries, including the United States, Canada, Argentina, and Portugal.
The company has justified the hikes by emphasizing the need to reinvest in its platform to improve the user experience for its growing global audience. The price increases follow a significant surge in subscriber numbers, with nearly 19 million new members joining Netflix in late 2024.
This brings the company’s total subscriber base to an impressive 300 million worldwide, solidifying its dominant position in the increasingly competitive streaming market.
In the United States, most of Netflix’s subscription plans will see price hikes. The standard ad-free plan will rise from $15.49 to $17.99 per month.
The ad-supported plan will increase by $1, reaching $7.99 per month, while the premium plan, which offers the highest streaming quality and supports more devices, will see a $2 increase, bringing the cost to $24.99.
Similar price adjustments have been implemented in Canada, Portugal, and Argentina, with Netflix highlighting these increases as necessary to fund ongoing content expansion and technological improvements.
In a statement, Netflix explained, “We will occasionally ask our members to pay a little more so that we can reinvest to further improve Netflix,” acknowledging that the price hikes would help fund new content and enhance its services.
Despite the increases, Netflix’s growth continues unabated. The surge in subscriptions was largely driven by the success of new content, including the second season of the popular South Korean drama Squid Game, and major sporting events such as the boxing match between influencer Jake Paul and former heavyweight champion Mike Tyson.
Netflix has also expanded into live event offerings, including more WWE content and the broadcasting rights for the 2027 and 2031 FIFA Women’s World Cups.
Looking ahead, Netflix plans to introduce a new “Extra Member with Ads” plan, allowing ad-supported subscribers to add an additional member from outside their household for an extra fee, as part of its ongoing efforts to combat password sharing.
Despite the price increases, the company remains confident in its market dominance, noting that it still accounts for less than 10% of TV viewing in its service areas, signaling significant potential for future growth as global streaming adoption continues to rise.
