Your Netflix subscription is about to get even more expensive. News of the price hike follows the streaming giant’s Q4 2024 financial earnings report. The company revealed its largest-ever quarterly increase in subscribers, with 18.9 million new subscribers boosting Netflix’s global subscription base to over 300 million.
Naturally, with such a huge subscriber gain the next order of business is charging everyone more. Here’s how the new rates will impact your monthly bill:
Standard Plan without ads: This tier increases from $15.49 to $17.99 (a $2.50/mo price hike).
Ad-Supported: The cheapest tier will now be $7.99 per month up from $6.99 (a $1/mo price hike).
Premium: This tier will cost $24.99 per month, up from $22.99 month (a $2/mo price hike).
The cost of adding an Extra Member to a primary account is going up from $7.99 to $8.99 per month (a $1/mo price hike).
“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 told investors. “To that end, we are adjusting prices today across most plans in the U.S., Canada, Portugal and Argentina (which was already factored into the 2025 guidance we provided in October 2024).”
The last time Netflix increased prices was in October 2023 when the Basic plan went from $9.99 to $11.99 and the Premium tier saw a $3 bump from $19.99 to $22.99. The Premium tier is now $5/month more than the subscription cost just over two years ago. The streamer also cracked down on password sharing, a de facto price increase for many subscribers.
Streaming services across the board have seen price increases in the past couple years, including video game subscription services like Xbox Game Pass and PlayStation Plus. Despite most of these price hikes only amount to a dollar or two a month, but it all adds up, especially if you subscribe to a lot of these (like I do). Death by a thousand papercuts, basically.
The price increase will go into effect on your next Netflix billing cycle.
Explore all the juicy entertainment news you desire with GhanaWeekend on WhatsApp!
Click on the link to join the GhanaWeekend channel for curated, meaningful stories tailored just for YOU: https://whatsapp.com/channel/0029VaJ31iEDTkK8wIHNj31A
Never a dull moment with #GhanaWeekend
