Netflix is ringing in the new year with two big pieces of news. First, in the fourth quarter of 2024, subscriber count crossed the 300 million mark and revenue growth wildly exceeded expectations. Second, despite this apparent success, the wildly popular streaming video service is looking for even more money and will be bumping up prices across all of its subscription tiers, including its first-ever price hike on its ad-supported plan. These increases, which will affect the U.S., Canada, Portugal, and Argentina, according to The Verge, run anywhere from an additional $1 to $2.50 per month go into effect during your next billing cycle.
You can expect to pay $2.50 more for the standard, ad-free tier, which goes from $15.50 to $18 per month. The premium tier sees a slightly smaller hike from $23 to to $25 per month. And even the ad-supported tier, which had so far been spared from any increases, is going up from 12.5% from $7 to $8 per month.
In its letter to investors, the company didn’t even try to explain the increases with the usual rationale of increasing costs, simply saying, “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. To that end, we are adjusting prices today across most plans in the US, Canada, Portugal and Argentina.”
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Netflix has few real competitors when it comes to breadth of content and the amount of original programming you’ll find on the service. Nonetheless, you may want to check out how it compares to Amazon Prime Video or to Hulu, two of the most popular alternatives.
Should one of these services prove more enticing now that Netflix costs more, here’s a handy guide to canceling your Netflix subscription.