INDIANA – Netflix announced on Tuesday that it would increase subscription prices in the US and Canada following a historic quarter that saw the streaming service add 19 million new subscribers, its largest-ever quarterly gain. The surge brought Netflix’s global subscriber count to 302 million, further cementing its position as the industry leader.
CNN reported several high-profile content offerings, including the Mike Tyson versus Jake Paul boxing match in November, drove the streaming giant’s remarkable growth. The fight attracted 108 million viewers worldwide, making it the most-streamed sporting event in history. Two Christmas Day NFL games averaged 30 million global viewers, setting new records for streaming football viewership.
“Squid Game” season two delivers the platform’s biggest premiere, accumulating 68 million views in its first month. Adding WWE “Raw” live broadcasts on Monday nights further diversified Netflix’s programming lineup.
The newly announced price adjustments will affect multiple subscription tiers:
- Standard membership without advertisements will increase from $15.49 to $17.99
- Standard account with ads will rise by one dollar to $7.99
- Premium tier, featuring 4K video quality, will increase by $2 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,” the company stated in its letter to investors.
Netflix revenue exceeded $10 billion for the first time in company history, marking a 16% increase. Operating income grew substantially, reaching $2.3 billion, up 52% year-over-year.
The market responded positively to the announcement, with Netflix’s stock surging 13% in Tuesday afternoon trading.
