Netflix adds record new subscribers, hikes prices

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Netflix announced both record growth in the last quarter of 2024 and a price hike for 2025.
The streaming giant signed up 19 million new subscribers in the last part of 2024, bring its total to 302 million worldwide.
The company brought in $10.2 billion in revenue with operating income at $2.3 billion.
The streamer also announced it’s hiking prices. The standard ad-supporter plan is going from $6.99 to $7.99 a month. The standard plan will go to $17.99 from $15.49 per month, while the top tier is going up $2 from $22.99. The company will also increase the cost of adding an “extra member” without ads by $1 to $8.99.
The cost of adding an extra member on an ad-supported plan will remain the same at $6.99.
The initial pricing changes take place in the U.S., Canada, Portugal and Argentina, though prices vary outside the U.S.
New customers will pay the new prices starting Jan. 21, 2025, while existing subscribers will see the new prices on their next bill.
Not surprisingly, Netflix cites increased investment and cost of programming as a key factor behind the increases, though its announcement also mentions unnamed new features that could be added.
The company will spend $1 billion more in 2025 on content, coming in at a cool $18 billion. In addition to returning favorites, there’s a selection of new content coming, as well as continued investments in live sports and other new types of programs.
Netflix last had its major price hike in 2023.
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tags
Netflix, OTT, streaming
categories
Broadcast Business News, Featured, Streaming