Netflix has increased its subscription prices once again. The company announced that new prices have gone into effect in several countries, including the United States, Canada, Portugal and Argentina. It is worth noting that this increase does not affect Turkey.
According to Netflix spokesperson MoMo Zhou’s statement to The Verge, the monthly fee of the ad-supported plan increased from $6.99 to $7.99, while the price of the ad-free standard plan increased from $15.49 to $17.99. Additionally, the price of the highest priced premium plan has been increased from $22.99 to $24.99. The new prices will start to be applied in the subscribers’ next billing period.
“We intend to reinvest to further enhance our platform with such price adjustments as we continue to invest in programming and deliver greater value to our members,” Netflix said in its letter to investors. The company made its previous price increase in October 2023. The price of the ad-supported plan has been increased for the first time since its launch in 2022.
Despite the increase in subscription prices, Netflix recorded its biggest quarterly growth ever, gaining 19 million new subscribers in the final quarter of 2024. The company’s global subscriber base reached 300 million. However, Netflix stated that it will stop disclosing these growth figures regularly in the future and will only share when important milestones are reached.
The company has experienced significant growth, with an increase in the total number of subscribers and operating revenues exceeding $10 billion. However, Netflix management believes there is still growth potential. In the investor letter, it was stated that the platform constitutes less than 10 percent of the total TV viewing time in the countries where it is available, and stated that “With the widespread use of streaming in the world, there is a long way to grow.”
In addition to price increases, Netflix also announced a new “Additional Membership with Ads” plan. This plan will allow ad-supported subscription users to add one person from outside their household to their account for an additional fee of $7.99 per month. Ad-free plans already have this feature.
Netflix will continue to focus on live broadcasts
2024 is completed with a strong content calendar for Netflix. The platform attracted attention with productions such as the new season of “Squid Game” and “Arcane”, a spin-off of “League of Legends”. The company also expanded its moves in the live broadcasting field. It has presented audiences with a variety of special events, from a tournament featuring PGA golfers and Formula 1 drivers to NFL matches featuring performances by Beyoncé and Mariah Carey. However, Netflix’s streaming strategy remains focused on “can’t-miss special events” rather than regular sports content.
Stating that it achieved record viewing rates in the boxing match between Mike Tyson and Jake Paul last year, Netflix reached 4.9 million viewers for the “Monday Night Raw” event organized in cooperation with WWE. These results signal that the platform’s live content strategy will gain even more importance in the future.
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