Netflix said it’s boosting the prices for its subscription plans for U.S. subscribers starting today, a move that comes as the streaming service is making an expansion into live programming.
The streaming service said it added almost 19 million subscribers during the holiday season quarter, signaling that the new strategy is paying off.
The boost in subscription prices comes after the service last increased prices in 2023, while also beginning a crackdown on password sharing that same year. Although Netflix’s venture into live programming is primarily tied to its effort to sell more commercials, it also appears to be giving current subscribers another reason to stick with the service while also reeling in new viewers.
“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 said in a statement.
Here are Netflix’s new pricing plans
In an email to CBS MoneyWatch, Netflix said it’s boosting its subscription plans for American customers by about $1- $2.50 per month, depending on the plan.
- A standard plan with ads will rise to $7.99 a month from the current $6.99
- A standard subscription will increase to $17.99 per month, versus the current $15.49
- A premium plan will boost to $24.99 per month from $22.99 per month currently
- Adding an extra member will now cost $8.99, up from $7.99
Adding an extra member for the advertising-based plan will remain the same, at $6.99 per month, the company said.
contributed to this report.
