Netflix is raising prices after reporting largest-ever subscriber jump



New York
CNN
 — 

Netflix announced Tuesday it will raise prices on most of its subscription tiers in the US and Canada after the streaming giant reported 19 million new subscribers in the last quarter of 2024.

The jump in subscribers, Netflix’s biggest-ever, puts the streaming giant at 302 million globally, solidifying the company’s hold on the top spot in the industry.

Netflix attributed the service’s success to the Mike Tyson and Jake Paul boxing match in November, which drew 108 million global viewers, making it the most-streamed sporting event ever. The streamer later hosted two Christmas Day NFL games, which averaged 30 million global viewers, making them the most-streamed football games in history.

Subscriptions were also buoyed by the massive success of “Squid Game” season two, which is currently the streamer’s third-most-watched TV season.

The price increases announced Tuesday will see the standard monthly membership without advertisements increase from $15.49 to $17.99, while a standard account with ads will rise one dollar to $7.99. Its highest-priced premium tier, which includes 4K video quality, will increase by $2 to $24.99.

“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 said in a letter to investors.

Netflix also reported revenue increased 16%, exceeding $10 billion for the first time in the company’s history, while operating income totaled $2.3 billion, a 52% on-year increase.

The company’s stock surged 13% on the news Tuesday afternoon.

The earnings report marks the final time Netflix will report its paid membership figures on a quarterly basis, though the company has said it will continue to share key membership milestones as they happen.

This is a developing story and will be updated.



Netflix recently announced that it will be increasing its subscription prices after reporting its largest-ever subscriber jump in the first quarter of 2021. The streaming giant added a whopping 15.8 million new subscribers globally, far surpassing expectations.

As a result of this surge in new users, Netflix has decided to raise its prices in certain regions to help fund its ever-growing content library and investment in original programming. While the exact price hikes have not been specified yet, subscribers can expect to see an increase in their monthly subscription fees in the coming months.

Despite the price increase, Netflix remains a top choice for consumers looking for a wide variety of movies, TV shows, and original content. With an ever-expanding library and a commitment to delivering high-quality entertainment, Netflix continues to dominate the streaming market.

So, if you’re a Netflix subscriber, be prepared for a slight increase in your monthly bill. But with the abundance of content and new releases coming your way, it may just be worth the extra cost.

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