Netflix gained a little under 20 million new subscribers to wrap up 2024 — and with that will come another squeeze, as the streamer has announced that another price hike is coming.
As per Variety, Netflix’s Standard plan – which has up to two devices and no ads – will bump up $2.50 to $17.99 while their introductory plan – which is ad-supported – will go up in price by $1. The highest tier, the Premium – which allows four users to view simultaneously – will hit $24.99 per month, which still makes it the most expensive option on the market.
In a statement, Netflix indicated that the constant stream of content is a key reason behind the price bump. “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…” They would go on to note that they still encourage people to subscribe to the Standard with ads plan if they are looking to save some money…and sit through commercials even though you’re a paying customer.
Admittedly, it has been a while since Netflix last changed their price points, but we do have to wonder just where the breaking point itself will be. It’s not unreasonable to think that in just a few years the highest monthly subscription price could hit $30 in some regions. (It’s worth mentioning that these price hikes from Netflix are only affecting the U.S., Canada, Argentina, and Portugal.)
But we all saw this coming, really. With Netflix getting into the live sports game with professional football, a $5 billion deal with the WWE and disgraceful boxing bouts, we were bound to see our monthly payments go up. And those Love Is Blind golden goblets can’t be cheap, either!
As of their latest reportings, Netflix has officially hit 300 million subscribers, topping Disney+, Amazon Prime Video and, yes, even Noggin.
How do you feel about Netflix’s latest price increase? What is the breaking point for you when it comes to a streamer? Give us your thoughts below.
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