Netflix said it will boost prices on its subscription plans for US subscribers starting today, a move that comes as the streaming service expands into live programming.
The streaming service said it added nearly 19 million subscribers during the holiday quarter, suggesting the new strategy is paying off.
The increase in subscription prices comes after the end of the service Price increase in 2023while also starting A Crack down on password sharing In the same year. Although Netflix’s venture into streaming programming is primarily related to its efforts to sell more commercials, it also appears to give existing subscribers another reason to stick with the service while also attracting new viewers.
“As we continue to invest in programming and deliver more value to our members, we will occasionally ask our members to pay a little more so we can reinvest to further improve Netflix,” the company said in a statement.
Here are Netflix’s new pricing plans
In an email to CBS MoneyWatch, Netflix said it is boosting its subscription plans for US customers by about $1 to $2.50 per month, depending on the plan.
- The Standard plan with ads will rise to $7.99 per month from the current $6.99
- The standard subscription will rise to $17.99 per month, up from $15.49 currently
- The Premium plan will be increased to $24.99 per month from the current $22.99 per month
- Adding an additional member will now cost $8.99, up from $7.99
Adding an additional member to the ad-based plan will remain the same at $6.99 per month, the company said.
She contributed to this report.