Netflix has announced an increase in subscription prices across the United States and Canada following a record-breaking surge in subscribers. The streaming giant added 19 million users in the final quarter of 2024, bringing its global total to 302 million.
The company attributes its growth to high-profile events, including the widely watched Mike Tyson vs Jake Paul boxing records, which drew 108 million viewers globally. Additionally, the return of the hit series Squid Game for its second season became the platform’s biggest premiere, drawing 68 million views in its first week.
Netflix further expanded its content offerings by introducing WWE Raw live broadcasts on Monday nights, contributing to the surge in subscriptions.
Netflix announced price hikes on Tuesday as part of its strategy to sustain growth and invest in new programming. CNN reported that the standard plan without ads will increase from $15.49 to $17.99, while the ad-supported tier will rise from $6.99 to $7.99. The premium plan, which offers 4K streaming, will see a $2 increase, bringing it to $24.99 per month.
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, Netflix said in a letter to investors.
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