Netflix says it raised prices following a surge in subscribers late last year.
The streaming service’s standard ad-free monthly subscription will increase from $15.49 to $17.99. A standard account with ads will increase by $1 to $7.99. The premium tier will increase by $2 to $24.99.
Netflix announced price increases on Tuesday. It said 19 million new subscribers signed up in the final quarter of 2024, its biggest increase on record. Netflix is now streaming to 302 million people worldwide. It had previously increased the prices of its standard plan in 2022.
Netflix has credited the increase in subscribers to its live sporting events, such as the Mike Tyson-Jake Paul boxing match in November which attracted 108 million viewers and was the most-streamed sporting event of all time. Netflix also hosted two NFL games on Christmas Day, attracting an average of 30 million viewers.
The second season of “Squid Game” increased subscriptions, as did broadcasts of WWE “Raw” on Mondays, Netflix said.
Other streaming services, including Disney, Max, Peacock and Apple, have increased their monthly fees in recent years.
Netflix said its revenue grew 16% last quarter, bringing it to more than $10 billion for the first time in its history.
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