Netflix published its financial results for the fourth quarter of 2024. Overall, the company feels good, and this will please shareholders. It is reported that revenue increased by 16%, and the amount of operating profit exceeded $10 billion. At the same time, despite such great indicators, Netflix is raising prices for its services.
“As we continue to invest in programming and provide more value to our members, from time to time we will ask our members to pay a little more so we can reinvest in further improving Netflix,” – says the company’s letter to shareholders.
From now on, the Standard plan with ads will cost $8 per month instead of the previous $7 per month. The ad-free Standard version has increased from $15 to $18 per month. The monthly rate for Premium, which offers 4K Ultra HD and HDR, rose from $23 to $25. Adding an additional member from outside your household to the streaming plan also becomes more expensive, changing from $8 per month to $9 per month.
The good news is that this increase is currently geographically limited. It affects the US, Canada, Portugal, and Argentina. For Ukraine, rates are currently declared from €4.99 to €9.99 per month. However, it is expected that Netflix will also increase the subscription cost for other regions eventually. At the end of 2024, after the report for the third quarter, the company raised prices for users in Japan, some European countries, the Middle East, and Africa.
Source: Engadget