Netflix is on a roll. It’s snagging high-profile content, such as NFL games, and its profits are soaring. Subscribers will now pay a little more to keep watching.
The company announced fourth-quarter earnings that included a 16% increase in revenue. At the same time, Netflix announced an immediate increase in subscription prices.
"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," the company said in a statement to shareholders. "To that end, we are adjusting prices today across most plans in the US, Canada, Portugal and Argentina."
Effective immediately, the Standard plan, which includes advertisements, is going up from $7 to $8. The Standard subscription that does not include ads will now be $18 a month instead of $15.
The rates for Premium has increased from $23 to $25. The extra fee for allowing access to your subscription to someone outside your household is going up from $8 a month to $9 a month.
It’s the second Netflix subscription price increase in less than two years. In justifying the rising subscription costs, Netflix pointed to its 2024 successes, saying it had more number one shows in the weekly Streaming Top 10 charts than all other streamers combined.