In its earnings report released on Tuesday, Netflix announced that it has gained 19 million new subscribers in Q4 2024, bringing its global user base to 302 million at the end of 2024. Revenue in Q4 increased 16% year over year, or 19% on a foreign exchange (F/X) neutral basis. The company has once again hiked the price of most of its plans in US, Canada, Portugal and Argentina.
Price Adjustments and Plan Changes
The $15.49 Standard monthly plan will now cost $17.99, and the $22.99 Premium plan will increase to $24.99, after a price hike in October 2023. The basic plan was removed last year.
The ad supported plan which was introduced for $6.99 back in 2022 is getting a price hike for the first time to $7.99 / month. Now you can add 1 extra member for $6.99 / month with ads, or $8.99 / month without ads.
| Plan | Old Price | New Price |
|---|---|---|
| Standard | $15.49 | $17.99 |
| Premium | $22.99 | $24.99 |
| Ad-supported | $6.99 | $7.99 |
| Extra member with ads | $6.99 | |
| Extra member without ads | $8.99 |
Regarding this, in the earnings release, the company said:
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
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).
In Q4, it accounted for over 55% of sign-ups in our ads countries and membership on our ads plan grew nearly 30% quarter over quarter. Today we are introducing an Extra Member with Ads offering in 10 of the 12 countries where we have an ads plan to give our members additional choice and flexibility.