New year, new price hikes. Netflix revealed it's jacking up subscription prices in the U.S., Canada, Portugal, and Argentina — including the first increase of its ad-supported plan. Starting today, the cheapest Netflix plan will cost $7.99 per month, while the premium subscription with 4K streaming will set you back $24.99 a month.
Under the new pricing, Netflix's Standard plan with ads will jump up $1, from $6.99 to $7.99 per month. For the same plan without ads, you'll now be paying $17.99, up from $15.49. And as for Netflix's Premium tier, which features 4K streaming and four simultaneous streams, it'll see a $2 increase, from $22.99 to $24.99 per month. The cost of adding an Extra Member to a primary account is also increasing from $7.99 to $8.99 per month.
The streamer revealed the price increase in its latest earnings report released Tuesday, in which Netflix celebrated a record quarter of new subscriber growth. The company surpassed 300 million paid memberships during the quarter, adding 19 million subscribers — the most in its history during a single quarter. Revenue in the fourth quarter jumped 16% year-over-year, reaching $10.25 billion, another first for the company.
“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 letter to investors. “To that end, we are adjusting prices today across most plans in the U.S., Canada, Portugal and Argentina (which was already factored into the 2025 guidance we provided in October 2024).”
While the letter did not specify what the price hikes would entail, a Netflix spokesperson confirmed the updated pricing information to both The Wall Street Journal and Bloomberg.
As frustrating as it is, this price hike comes as little surprise given the streaming service's track record of regularly bumping up subscription fees to boost content production and profits. The news comes just a little over a year since Netflix's last price hike. What's notable about this latest increase is that the price of Netflix's standard plan with ads has remained the same since it originally launched in 2022. The last major U.S. price hike took place in October 2023, when Netflix raised the Premium price to $22.99 from $19.99. It's been three years since Netflix changed pricing on its standard plan without ads, with the last adjustment happening in January 2022 when it bumped the plan from $13 to $15.49.
With streaming prices rising higher and higher, it's worth keeping track of your monthly expenses on which services you subscribe to. For help figuring out what to keep and what to nix, be sure to check out our guide on streaming costs in 2025 to get the full lowdown. And if you're looking for a way to cut down on costs, here are the top three free streaming services we recommend.
