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Netflix Announces Another Price Hike in The US After Crossing 300 Million Subscribers
Netflix has announced yet another price hike in the US after revealing that it crossed a new 300 million subscribers milestone yesterday. The price hike will also affect other countries such as Canada, Argentina and Portugal, though we’re still awaiting confirmation for the inevitable South African price hike.
As reported by IGN, Netflix recently announced a record growth during its full year 2024 earnings, showing 19 million new subscriptions during Q4 and 41 million from the year, now bringing its overall number of subscribers to over 300 million (302 million, to be precise).
This will also be the last time that Netflix will report subscriber growth, which the company confirmed last year in an effort to “focus on revenue and operating margin as its primary financial metrics, and engagement as its metric for customer satisfaction.” Netflix co-CEO Greg Peters explained at the time:
“We’ll add a new annual guidance on a revenue range to give you a little bit more of a longterm view. We’re not gonna be silent on members as well. We’ll periodically update when we grow and we announce certain major milestones, it’s just not going to be part of our regular reporting. And we want to do all of this thoughtfully and give everyone time to transition, so we’re gonna report subscribers until Q1 of next year, which links into our new annual revenue guidance for 2025.”
As for the price hikes, Netflix didn’t say exactly what they would entail, though Bloomberg reports that the ad-supported tier will increase from $6.99 to $7.99 per month. The standard ad-free will also increase from $15.49 to $17.99 per month while the premium tier will rise from $22.99 to $24.99.
“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,” said the company in its recent shareholder letter. “To that end, we are adjusting prices today across most plans in the US, Canada, Portugal and Argentina (which was already factored into the 2025 guidance we provided in October 2024).”
We’ve reached out to Netflix to confirm local price adjustments. We’ll provide an update as soon as we have the information.
Source: IGN
Original article on GLITCHED
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