Netflix has announced price hikes in multiple markets, including the U.S., Canada, Portugal, and Argentina. The ad-supported plan will rise from $6.99 to $7.99 per month, while the standard subscription increases from $15.49 to $17.99, and the premium plan goes from $22.99 to $24.99 per month.

This move comes after Netflix reported a significant rise in new subscribers, adding nearly 19 million new accounts in the most recent quarter. This growth brings the total number of paying subscribers to 302 million. Additionally, Netflix saw a 16% increase in revenue and a milestone of over 100 billion SEK in operating profit for the first time.

In a letter to shareholders, Netflix explained that the price adjustments are necessary to continue investing in content and improving the service. Netflix co-CEO Ted Sarandos emphasized that the company’s strong content lineup for 2025 justifies the price increases.

While the price changes are confirmed for the U.S. and other regions, it remains unclear if other areas, such as Sweden and the Nordic countries, will see similar hikes. Historically, such changes have followed those in the U.S. and Canada.

Source: WSJ