Netflix reports strong Q4 2024 earnings with over $10 billion in operating income and a 16% revenue increase. However, the company announces a price hike for its subscription plans in the US, Canada, Portugal, and Argentina, citing investments in programming.
Netflix has released its earnings figures for the fourth quarter of 2024. While a lot of the results seem like good news for the company's shareholders, like operating income of more than $10 billion and a 16 percent revenue increase, there's a sting in the tail for its viewers.
Subscription prices are going up yet again, starting today. "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 its shareholder."To that end, we are adjusting prices today across most plans in the US, Canada, Portugal and Argentina." Netflix later confirmed the specifics of the latest price hikes. The Standard plan with ads is inching up from $7 to $8 a month, while the ad-free version of Standard will rise from $15 to $18 a month. The monthly rates for Premium, which offers 4K Ultra HD and HDR, will increase from $23 to $25. Adding an extra member from outside your household to a streaming plan is also getting more expensive, changing from $8 a month to $9 a month.
NETFLIX SUBSCRIPTION PRICES EARNINGS PRICE HIKES STREAMING
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