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Netflix has implemented a price hike across its subscription plans in the United States, as the streaming service expands into innovative content areas like video podcasts and live sports.
The ad-supported subscription is now priced at $8.99 per month, up from the previous $7.99, while the standard plan has increased by $2, reaching $19.99 monthly, as stated on Netflix’s website.
The premium subscription now stands at $26.99, a rise from the earlier $24.99. Additionally, the fee for adding an extra member has been raised to $7.99 for ad-supported plans and $9.99 for ad-free ones.
With over 325 million subscribers globally, Netflix discontinued its most affordable ad-free plan, known as the basic plan, in 2023. This leaves customers with the option of choosing between the costlier premium and standard plans or the ad-supported standard plan.
As a result of these pricing adjustments, analysts from TD Cowen project that Netflix’s average revenue per subscriber in the US-Canada region will see a 6% increase year-over-year by 2026.
It last raised prices early last year.
Netflix reported revenue of $12.1 billion for the October-December period, modestly exceeding analysts’ estimate.
In February, it walked away from bidding for Warner Bros.’ streaming and studio assets, paving the way for Paramount Skydance to buy the storied Hollywood studio in a $110 billion deal, including debt.