Netflix has just completed a record-breaking quarter for new subscriber growth, once again surpassing the 300 million subscriber milestone. To mark the occasion, the company has announced another price increase for most of its plans in the United States, Canada, Portugal, and Argentina.
In its full-year 2024 earnings report, Netflix revealed it ended the fiscal year with 302 million paid subscribers—adding a quarterly record of 19 million in Q4 and an annual record of 41 million for the full year. Although this marks the final quarter in which Netflix will report subscriber numbers, the company stated it will "continue to announce paid membership milestones as they are achieved."
Alongside these new records, however, was a small footnote tucked into the shareholder letter. Netflix is increasing prices again, just over a year after its last hike in 2023. The company also raised prices in 2022 and, on average, has increased them by roughly $1 to $2 annually since its first adjustment in 2014.
"As we continue to invest in content and deliver greater value to our members, we will occasionally ask them to pay slightly more so we can reinvest in enhancing the Netflix experience," the company explained in its shareholder letter. "To that end, we are adjusting prices today across most plans in the U.S., Canada, Portugal, and Argentina—a change that was already reflected in the 2025 guidance we provided in October 2024."
Notably, the letter did not specify the exact price changes. According to reports from The Wall Street Journal and Bloomberg, the ad-supported plan will increase from $6.99 to $7.99 per month, the standard ad-free plan will rise from $15.49 to $17.99, and the premium plan will go from $22.99 to $24.99.
The company also introduced a new “extra member with ads” plan, which—as reported by Bloomberg and the WSJ—allows users on an ad-supported plan to add someone outside their household for an added fee. Previously, extra members were only available on standard or premium plans.
Overall, Netflix's quarterly revenue rose 16% year-over-year to $10.2 billion, while annual revenue climbed by the same percentage to $39 billion. The company is projecting year-over-year growth between 12% and 14% for 2025.
