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Netflix has announced a hike in subscription prices for several of its plans in the United States, Canada, Portugal, and Argentina. The update was shared in the company's latest Q4 2024 earnings report, citing the need to invest in content and platform improvements as the main reason behind the increase.
Changes in the U.S.:
- Standard Plan with Ads: Increased from $6.99 to $7.99 per month.
- Standard Plan (Ad-Free, 1080p): Price raised from $15.49 to $17.99 per month.
- Premium Plan (4K): Now costs $24.99, up from $22.99.
Canada and other affected countries will see similar price adjustments, according to Netflix.
Why the Price Hike?
Netflix explained that the price revisions allow it to continue investing in programming and enhancing its platform for viewers. This decision aligns with its strategy of offering more value to its members while maximizing revenue. The company also reminded users that occasional price increases are necessary for reinvestment in content and services.
Background on Pricing Changes
Netflix introduced an ad-supported plan a year ago while removing the Basic ad-free plan. This move was part of an effort to increase revenue by offering both ad-supported and higher-tier options to customers.
What About India?
The latest price hikes do not affect Indian users. Here are the current Netflix subscription plans available in India:
- Mobile Plan: ₹149/month (480p, supports one mobile/tablet device).
- Basic Plan: ₹199/month (720p, supports one device like TV, computer, or mobile).
- Standard Plan: ₹499/month (1080p, supports two devices for simultaneous streaming).
- Premium Plan: ₹649/month (4K resolution, spatial audio, supports up to four devices and offline downloads on seven devices).
Indian users can continue enjoying Netflix at these prices, for now.
This latest adjustment reflects Netflix’s commitment to investing in high-quality content while meeting its financial goals. However, users in affected countries will need to pay slightly more for their subscriptions.
