At the presentation of the new season (3) of the Netflix series “Bridgerton”, the word “Netflix” shines in Flora.
Rolf Vennenbernd | Picture Alliance | Getty Images
Netflix is raising the price of most of its US plans.
The streaming giant announced Tuesday that its standard ad-free plan will rise from $15.49 a month to $17.99. Its cheaper ad-supported plan, which was recently introduced to attract more subscribers, will increase from $6.99 a month to $7.99.
In addition, the monthly cost of Netflix’s premium plan will increase from $22.99 to $24.99.
The company, which fourth quarter report earnings on Tuesday, said it would also raise prices in Canada, Portugal and Argentina.
Consumers were faced with numerous price increases in recent years on major streaming services including Netflix and its competitors including Disney’s applications and Warner Bros. Discovery’s Max. Streamers are increasingly turning to higher prices and ad-supported plans as they seek to achieve profitability.
Netflix unveiled its cheaper ad-supported plan in November 2022 in response to slowdown increase in the number of subscribers at that time. In November, Netflix he said has reached 70 million global monthly active users on its ad plans.
The company has been cracking down on password sharing in an effort to get more customers to pay for its service.
As part of that change, Netflix gave subscribers the option to add “additional members” to their accounts. The streamer said Tuesday that the cost of additional members on standard, ad-free plans will rise from $7.99 a month to $8.99. Additional members on ad-supported plans will not see a price change.
The crackdown appears to have paid off: Netflix reported Tuesday that it added a record 19 million paid memberships during the fourth quarter to surpass 300 million subscribers.
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