Netflix has announced price hikes for its subscription tiers. The Standard plan will rise from $15.49 to $17.99 per month, while the ad-supported tier will increase by $1, from $6.99 to $7.99. The Premium plan, which allows four simultaneous streams, will now cost $24.99 per month, an increase of $2. Adding an Extra Member will go from $7.99 to $8.99 per month.

In their quarterly letter to investors, Netflix explained, “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 price adjustments will also take effect in Canada, Portugal, and Argentina.

This follows a previous increase in October 2023, where the basic plan went from $9.99 to $11.99, and the premium price rose from $19.99 to $22.99. Co-CEO Greg Peters stated, “We believe that our starting price” for Standard With Ads , even after the price increase , “is an incredible entertainment value.” Netflix has reported 301.63 million global subscribers.