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Netflix hikes prices again, with cheapest plan now starting at $7.99/month

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Get ready to pay more for a Netflix subscription, as the video-streaming giant has hiked its subscription prices in several countries. The change was announced during Netflix's Q4 2024 earnings report, where the company also revealed that the platform gained 19 million new subscribers in the fourth quarter—a new quarterly record for Netflix.

The streaming platform emphasized that, during this growth phase, it will continue to "improve all aspects of Netflix - more series and films our members love, a great product experience, increased sophistication in our plans and pricing strategy (including more advertising capabilities) - and grow into new areas like live programming and games. If we do that well, we believe we’ll have an increasingly valuable company - for consumers, creators, and shareholders."

The company also announced (PDF) that "we are adjusting prices today across most plans in the US, Canada, Portugal and Argentina." With this price hike, the cheapest Standard plan with ads is now $1 more expensive in the US, costing $7.99/month instead of $6.99/month. The ad-free Standard subscription has also increased from $22.99/month to $24.99/month. Notably, Netflix said that its ads plan accounts for over 50% of new sign-ups in countries where it is available.

In addition to increasing its subscription prices, Netflix also announced a new "Extra Member with Ads" plan, allowing a user on an ad-supported tier to add someone outside of their household to their subscription. This new subscription plan will be available in 10 of the 12 countries where Netflix currently offers its ads plan.

According to Netflix, the new prices will come into effect during the subscriber's next billing cycle. The last price increase for Netflix happened back in October 2023. However, this is the first time, the streaming giant has increased the subscription prices of its ad-supported tier since its launch in 2022. Netflix also highlighted that it now has over 300 million paid members, excluding Extra Member accounts, and boasts a massive global audience of over 700 million users.

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