Netflix is increasing its pricing after gaining almost 19 million new members in the last few months of 2024.
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According to the streaming company subscription fees will go up in the US Canada Argentina and Portugal.
The second series of the South Korean drama Squid Game contributed to Netflix’s higher-than-expected subscriber numbers.
Having announced 19 million new members in the final quarter of 2024 Netflix said Tuesday it would increase the cost of most of its subscription tiers in the US and Canada.
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Due to the price increases announced on Tuesday a standard monthly membership without advertisements will now cost $17. 99 instead of $15. 49 and a standard account with ads will cost $7. 99 instead of $15. 49.
It will raise the price of its most expensive premium tier which comes with 4K video quality by $2 to $24. 99.
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“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.
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