Netflix prices increase again after attracting a record amount of subscribers

The streamer wants you to pay "a little more" so it can invest in more content

(Credit: Netflix)

• 💰 Netflix subscribers in the US, Canada, Argentina and Portugal will have to pay more each month

• 😢 The price hike comes into effect immediately

• 📈 A Netflix premium subscription now costs $24.99 per month instead of $22.99

• 🤷‍♀️ Netflix attracted a record amount of subscribers during its last quarter

The price of a Netflix subscription is increasing yet again, even though the streamer attracted a record number of subscribers in the last quarter of 2024. Over 19 million people signed up to Netflix, which the company says was down to a combination of live sports and original programming.

Starting today, Netflix customers in the US, Canada, Argentina and Portugal will have to shell out a little more each month to watch shows like Squid Game 2 and WWE, and it’s likely other countries will see similar price hikes soon.

Netflix’s ad-supported tier has increased from $6.99 to $7.99 a month, and the ad-free tier now costs $17.99 per month from $15.49 per month. The premium tier, which lets you watch 4K content, has risen from $22.99 to $24.99 a month.

The price increases may seem small when viewed on a monthly basis, but over the course of the year, they add up. You’re basically paying for an extra month’s membership if you’re a premium tier subscriber.

Netflix rolled out the same statement we’re used to hearing whenever there’s a price hike. “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 told its shareholders.

Netflix last raised its prices in the US in October 2023 and recently cracked down on password sharing. It hasn’t stopped the streamer from doubling its net profit between October 2024 and December 2024 to $1.8bn compared to the same period a year ago.

• Up next: Minecraft is coming to Netflix as an animated series

Adam Vjestica is The Shortcut’s Senior Editor. Formerly TechRadar’s Gaming Hardware Editor, Adam has also worked at Nintendo of Europe as a Content Marketing Editor, where he helped launch the Nintendo Switch. Follow him on X @ItsMrProducts.