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The word “Netflix” shines brightly at the presentation of the new season (3) of the Netflix series “Bridgerton” at Flora.
Rolf Vennenbernd | Image Alliance | fake images
netflix is raising the price of most of its US plans.
The streaming giant announced Tuesday that its standard commercial-free plan will increase from $15.49 per month to $17.99. Its cheapest ad-supported plan, which was introduced more recently to attract more subscribers, will increase from $6.99 per month to $7.99.
Additionally, the monthly cost of Netflix’s premium plan will increase from $22.99 to $24.99.
The company, which reported fourth quarter earnings on Tuesday, said it will also raise prices in Canada, Portugal and Argentina.
Consumers have faced numerous price increases in recent years on major streaming services including Netflix and its competitors including disney applications and Warner Bros. Discovery Max. Streamers have increasingly turned to higher prices and ad-supported plans in their quest for profitability.
Netflix introduced its cheapest ad-supported plan in November 2022 in response to decelerating subscriber growth at that time. In November, Netflix saying had reached 70 million monthly active users worldwide on its advertising plans.
The company has been cracking down on password sharing in a bid to get more customers to pay for its service.
As part of that change, Netflix has given subscribers the option to add “additional members” to their accounts. The streamer said Tuesday that the cost for additional members on standard commercial-free plans will increase from $7.99 per month to $8.99. Additional members on ad-supported plans will not see a price change.
The crackdown appears to be paying off: Netflix reported Tuesday that it added a record 19 million paid memberships during the fourth quarter to surpass 300 million subscribers.
This is breaking news. Please check back for updates.
