Netflix Announces Price Increase in Multiple Countries

The price increase comes as the streaming giant hit record highs in new subscriber count. Will the Philippines follow suit?

Netflix has announced a new price hike across most of its subscription plans in the United States, Canada, Portugal, and Argentina, coinciding with its record-breaking quarter for subscriber growth.

This comes as the streaming giant added 19 million new subscribers in Q4 of 2024, ending the year with 302 million paid memberships, a 41-million increase over the year.

The company’s ad-supported tier will reportedly rise from USD6.99 to USD7.99 per month. Standard ad-free plans will jump from USD15.49 to USD17.99, while the premium tier will increase from USD22.99 to USD24.99, according to Netflix’s plans page on their US website.

Moreover, Netflix also introduced a new “extra member with ads” plan, which allows users on ad-supported plans to add someone outside their household for an additional fee—a feature previously restricted to higher-tier plans.

In its latest earnings report, Netflix justified the price increase by citing ongoing investments in programming.

“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,” the company wrote.

Despite the price hikes, Netflix has achieved impressive financial growth, reporting a 16 percent year-over-year increase in quarterly revenue to USD10.2 billion and USD39 billion in annual revenue.

Furthermore, the streaming giant expects continued revenue growth of 12 percent to 14 percent year-over-year in 2025. (GFB)