News
USA | Jan 23, 2025

Netflix raises subscription fees after huge subscriber growth

ABIGAIL BARRETT

ABIGAIL BARRETT / Our Today

author
Reading Time: < 1 minute
(Photo: pixabay.com)

Netflix is starting off 2025 with price hikes affecting most subscribers in the US, Canada, Portugal, and Argentina.

The increase, which comes ahead of major releases like a docuseries on Southeastern Conference (SEC) football, is part of the company’s strategy to reinvest in content and improve the platform.

Co-CEO Greg Peters explained that price hikes follow increased value in engagement, retention, and acquisition metrics. “We listen for signals like engagement, retention, acquisition…all to tell us when we’ve achieved that increase in value. And when we’ve done, then we asked them to pay a bit more to keep that virtuous cycle going,” Peters said.

In a letter to shareholders released on Tuesday, January 21, Netflix said the changes would help fund its future growth, following a record 19 million new subscribers in its most recent quarter, bringing the total to 302 million globally. Revenue also surged 16 per cent year-over-year.

This would be Netflix’s first price increase in the US since October 2023.

Comments

What To Read Next

News JAM Feb 13, 2025

Reading Time: 2 minutesMinister of Labour and Social Security, Pearnel Charles Jr., announced in the Houses of Parliament on Tuesday, February 11, that Jamaica will commemorate the third anniversary of the Disabilities Act on Friday, February 14.

The Act, which came into effect on February 14th, 2022, provides a comprehensive framework for the protection of the rights of persons with disabilities in our country.