Netflix is raising subscription prices in multiple countries again: Here are the new rates
The standard ad-free plan now costs $17.99/month, up from $15.49.
Netflix added 19 million subscribers last quarter, reaching a total of 300 million.
The company introduces an "Extra Member with Ads" plan, allowing additional household members for a fee.
Netflix has officially announced a price increase for its subscriptions in several countries, including the United States, Canada, Portugal, and Argentina. According to the latest earnings report, the Netflix subscription price increase is critical for the company to continue investing in content and improving the platform service.
Following the price increase, the standard ad-free plan will cost $17.99 per month, up from $15.49. The ad-supported plan will be priced at $7.99, up from $6.99. If you have a premium plan, you will now need to pay an additional $2. The premium plan will now cost $24.99, up from $22.99.
Interestingly, despite frequent price increases, the streaming giant is seeing an increase in subscriber growth. For the uninitiated, the company added 19 million new subscribers in the last quarter, bringing its total subscriber count to 300 million. This follows increased competition in global markets. Additionally, the company has stated that it will no longer provide quarterly updates on subscriber growth and will instead focus on major milestones.
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According to the company, the price hike strategy is intended to maintain high-quality content. The company will focus on its content library to remain competitive in the growing streaming market. Netflix also stated that it still accounts for less than 10% of TV viewing in the markets in which it operates, indicating that there is still plenty of room for expansion as streaming adoption grows globally.
Furthermore, the company is working on a new Extra Member with Ads program. This plan allows users to add an additional person outside of their household for an additional fee. To attract more users, the platform is also focusing on shows like Squid Game and Arcane, as well as live event programming such as special sports-related events and NFL games, according to reports.
Ashish Singh
Ashish Singh is the Chief Copy Editor at Digit. Previously, he worked as a Senior Sub-Editor with Jagran English from 2022, and has been a journalist since 2020, with experience at Times Internet. Ashish specializes in Technology. In his free time, you can find him exploring new gadgets, gaming, and discovering new places. View Full Profile