Some countries will have to fork out more for Netflix. The announcement comes as streaming services across the industry reassess their pricing strategies in a competitive market.
The streaming giant – which gained 18.9 million new customers in the last three months of 2024 – is upping the cost of its monthly subscriptions in the United States, Canada, Portugal and Argentina. This growth represents the largest quarterly subscriber increase in the company’s history.
In America, the cheapest option, which means you have to watch adverts in between viewing, will rise to $7.99, a standard plan without ads will increase to $17.99 and the premium plan will cost $22.99. These price adjustments reflect a broader industry trend, with streaming services investing heavily in original content production.
At the end of the 2024, Netflix had 300 million subscribers. This milestone represents a significant achievement in the streaming industry, where the total global streaming market is estimated to be worth over $400 billion.
“When you’re going to ask for a price increase, you better make sure you have the goods and the engagement to back it up,” Netflix’s co-CEO Ted Sarandos insisted at a conference. The company has invested over $17 billion in content creation for 2024 alone.
Meanwhile, Meghan, Duchess of Sussex, has delayed her new Netflix series amid the Los Angeles wildfires. The decision highlights the growing impact of climate-related events on entertainment production schedules.
The 43-year-old former actress’ new program ‘With Love, Meghan’ had been due to hit screens on 15 January, but at her request, the streaming service will now hold back the lifestyle show until 4 March. The series is part of Netflix’s expanding lifestyle and reality programming category, which has seen a 45% viewership increase year-over-year.
“I’m thankful to my partners at Netflix for supporting me in delaying the launch, as we focus on the needs of those impacted by the wildfires in my home state of California,” she said in a statement. The wildfires have affected over 100,000 acres of land in Southern California.
Netflix’s partner site, Tudum, noted: “At the request of Meghan, Duchess of Sussex, and with the full support of Netflix, the release of the show — a heartfelt tribute to the beauty of Southern California — has been moved from its previously announced January premiere date to March 4, due to the ongoing devastation caused by the Los Angeles wildfires.”
The price increase comes as Netflix continues to expand its content library, with over 2,000 original titles produced in 2024. The company’s investment in original programming has resulted in numerous award-winning series and films, garnering over 200 Emmy nominations in the past year.
Industry analysts predict this price adjustment could influence other streaming services to reevaluate their pricing strategies. The streaming market has become increasingly competitive, with major players investing billions in content creation and platform improvements.
Netflix‘s subscriber growth has been particularly strong in emerging markets, where the company has introduced mobile-only plans and partnerships with local telecommunications providers. These strategic initiatives have helped expand the platform’s global reach.
The company has also seen success with its ad-supported tier, which has attracted over 23 million monthly active users since its launch. This hybrid model has proven effective in maintaining subscriber growth while diversifying revenue streams.
Despite the price increase, Netflix remains competitive when compared to other premium streaming services, with its extensive library of content and consistent release of new original programming. The platform’s algorithm-driven content recommendations continue to drive high engagement rates among subscribers.
