Netflix is raising subscription prices for many users, citing growth and investment needs. Customers in the UK may see changes soon too.
Los Angeles: Netflix is raising its prices for some subscribers. They just reported record earnings and gained 19 million new customers in late 2024.
The streaming giant confirmed that subscription costs are going up in the US, Canada, Portugal, and Argentina. For example, the cheapest plan with ads in the US will now cost $7.99, up from $6.99.
Meanwhile, the standard plan without ads will jump to $17.99, up from $15.49. The premium plan, which offers Ultra HD and no ads, will now be $22.99, up from $20.99.
Netflix explained that these price hikes help them reinvest in improving their service. When asked about potential increases in the UK, a spokesperson said there’s no news yet.
However, it’s worth noting that when prices went up in the US last October, the UK also saw some hikes. So, it’s possible UK subscribers might face changes in 2025.
The last price change for UK customers was back in December 2020. Currently, UK subscribers pay £4.99 for the standard plan with ads, £10.00 for the ad-free version, and £17.99 for the premium plan.
By the end of 2024, Netflix had over 300 million global subscribers, thanks to popular shows like Bridgerton and Fool Me Once.
They made a whopping $39 billion in revenue last year, up from $33.7 billion in 2023. Their operating income also soared to $10.4 billion, a significant increase from the previous year.
Investment analyst Dan Coatsworth noted that Netflix is thriving and feels confident in raising prices. With a diverse range of content, including sports and games, they’re becoming a broader entertainment hub.
