Netflix has increased the subscription pricing for several subscription plans. The ad-supported plan has seen an increase from $6.99 to $7.99 per month. This change is the very first increase for the ad-supported option since 2022. The Standard-tier ad-free subscription has felt the most significant rise, from $15.49 to $17.99 monthly. In addition, the Premium tier is lifting the monthly charge from $22.99 to $24.99. These new rates were burdened with a previous concurrent price juncture in October 2023.
The revenue, great or little, shall go toward new programming and content. At the moment, Netflix is trying to squeeze more value out of its content supply for now. Even after the price hikes, Netflix records continued viewer growth. The last quarter saw 300 million global subscribers sign up, the biggest quarter-on-quarter increase ever.
This expansion has been attributed to several other factors. The other big event was Mike Tyson and Jake Paul boxing match, watched by a staggering 108 million viewers worldwide. Netflix has also gotten into live programming. The service was recently into live NFL games on Christmas Day, getting around 30 million viewers for each of those broadcasts.
The drive for growth has also reinforced Netflix’s financial strength. The company reached an operating income of $10 billion for the first time. The Netflix executives believe the market still has immense potential for further growth ahead of them. They think these strategic moves will continue moving the number of active subscribers up and make their overall value proposition stronger.