Netflix, the world’s leading streaming platform, is set to increase subscription prices in select countries, including the US, Canada, Argentina, and Portugal, after a remarkable surge in new subscribers. The company added nearly 19 million subscribers in the final months of 2024, far surpassing the projected 9.6 million for the quarter, and closed the year with a record-breaking total of over 300 million subscribers.
In the US, the standard ad-free subscription plan will now cost $17.99 per month, up from $15.49, while the ad-supported plan will rise by $1 to $7.99. This marks the first price adjustment since October 2023, when Netflix also increased some plans in the UK. Although the company has yet to announce similar changes for the UK, a spokesperson noted there was “nothing to share right now.”
Netflix attributed the subscriber growth to a robust programming slate. The return of the South Korean drama Squid Game captivated audiences globally, while live sports events like the much-anticipated boxing match between Jake Paul and former heavyweight champion Mike Tyson attracted a diverse viewer base. Additionally, Netflix streamed two NFL games on Christmas Day, further solidifying its appeal to sports enthusiasts.
The platform’s expanding live-event portfolio is a clear indicator of its strategic shift toward broader content offerings. Netflix recently acquired the rights to broadcast WWE wrestling and announced plans to stream the FIFA Women’s World Cup in 2027 and 2031. These moves aim to position the company as a dominant player in both entertainment and live sports streaming.
Paolo Pescatore, a technology analyst at PP Foresight, commented on the company’s strategy: “Netflix is now flexing its muscles by adjusting prices given its far stronger and diversified programming slate compared to rivals.”
Netflix’s financial performance mirrors its operational success. Between October and December 2024, the company’s net profit doubled to $1.8 billion compared to the same period in 2023. Revenue also climbed from $8.8 billion to $10.2 billion, highlighting the efficacy of its growth strategies.
Going forward, Netflix will cease quarterly subscriber growth reporting, opting instead to announce paid memberships upon reaching key milestones. This shift underscores the company’s confidence in its market position and its ability to sustain long-term growth through content innovation and strategic pricing adjustments.
With its diverse offerings and strong financial performance, Netflix remains a formidable force in the global streaming industry.
