It’s going to cost more to watch your favorite movies and TV shows on Netflix, the subscription service announced Tuesday.
Rates for most plans in the United States, Canada, Portugal and Argentina are increasing, The Washington Post reported.
Netflix’s ad-supported plan increased from $6.99 to $7.99 monthly, and a standard subscription has increased from $15.49 to $17.99 in the United States, according to the Post. The premium ad-free plan that allows four users to stream concurrently went up by $2 — to $24.99 per month.
The news comes after Netflix gained a record 41 million subscribers last year, the Post said, 19 million of which were added in the fourth quarter. It was the largest subscription jump ever during a three-month period, according to NPR.
Just six months ago, in July 2024, Netflix removed its cheapest ad-free plan for subscribers in the U.S. and France, NPR reported.
As the world’s largest streaming service with 302 million paying subscribers, Netflix also announced Tuesday that its annual operating income exceeded $10 billion for the first time in its history. The company’s stock gained about 12% by midmorning on Wednesday.
Disney has 123 million global subscribers for Disney Plus Core service as of the end of September, according to the Post, with an additional 35 million for Disney Plus Hotstar.
Hulu, which is owned by Disney, had 51 million subscribers, and Amazon reported over 200 million monthly viewers for Amazon Prime. There are more than 110 million subscribers across Warner Brothers Discovery services, including Max and Discovery Plus, according to its latest quarterly report.
Co-chief executive Greg Peters said Netflix raised prices in its other international markets in the past couple of quarters without problems.
Netflix’s projected revenue for 2025 is between $43.5 billion and $44.5 billion, which the Post said would equate to growth of about 12% to 14% year over year.
It’s a reversal from the subscription service’s outlook in recent years, as Netflix reported a decline in subscribers in 2022 for the first time in a decade, according to the Post.