Netflix to raise prices for some subscribers after a record increase in users
22 January 2025, 15:47
Netflix will raise their prices, for some subscribers, as they report 19 million new users in the last three months of 2024
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Netflix has reported that it ended 2024 with 300 million subscribers.
The streaming service saw an increase of 41 million users from 2023, beating its record 2020 year when Covid-19 lockdowns saw an increase of 36 million subscribers.
Some subscribers will see an increase in the price. The hike is confirmed in United States, Canada, Portugal and Argentina.
Netflix is yet to confirm is the UK will see a similar price increase.
In the US, the subscription price currently costs $7.99 (£6.49) with ads, and $17.99 (£14.60) without ads.
After Netflix released their new user figures, their shares went up 14%.
The company earned $1.9 billion (£1.6 million) in the last three months of 2024.
Netflix co-CEO, Ted Sarandos, said in a conference call, via SkyNews: "When you're going to ask for a price increase, you better make sure you have the goods and the engagement to back it up."
The TV giant had great success streaming a fight between former heavyweight boxing champion Mike Tyson and Youtuber Jake Paul.
It also streamed two NFL games on Christmas Day this year, with superstar Beyonce performing a half-time show.
Netflix launched Meghan Markle's new show earlier this month, on 15th January.
The series, produced by The Duchess of Sussex, is titled With Love, Meghan and features 8 episodes each 33 minutes long.
According to Netflix, the series "reimagines the genre of lifestyle programming, blending practical how-to’s and candid conversation with friends, new and old.
"Meghan shares personal tips and tricks, embracing playfulness over perfection and highlights how easy it can be to create beauty, even in the unexpected.
"She and her guests roll up their sleeves in the kitchen, the garden, and beyond, and invite you to do the same."
Alongside Meghan, the series features Roy Choi, Mindy Kaling, and Alice Waters, among other stars.
