STREAMING PLATFORM NETFLIX has announced that it will be raising the cost of most of its subscriptions in the US and Canada, despite the platform reaching a record number of subscribers. 

Yesterday, the company said that the various subscription plans would be raised by between $1 to $2.50 in the US. Subscriptions are charged monthly. 

In the US, the three plans available have had price increases: Standard with ads increased by one dollar to $7.99, Standard increased by $2.50 to $17.99, and Premium increased by two dollars to $24.99. 

There are also options to add members to various subscription plans for an extra fee, ranging between $6.99 and $8.99.

In Canada, prices for the subscriptions are set as so: Standard with ads [7.99 CAD], Standard [17.99 CAD], and Premium [23.99 CAD]. Extra members can be added to various subscriptions at the cost of between 5.99 CAD and 7.99 CAD.

The streaming giant has announced the increases just as it reports its most successful year in business since its establishment in 1997, with 19 million new subscribers joining the service in the fourth quarter of 2024. It now has 302 million paying subscribers globally.

The company’s revenue surpassed $10 billion for the first time ever in 2024. 

In Ireland currently, the three available plans are Basic [€8.99], Standard [€14.99], and Premium [€20.99]. Extra members can be added to plans for €4.99 a month. 

In 2022, Netflix implemented similar price increases in Ireland of between €1 to €3 of each subscription package. It last raised prices in the US in October 2023. 

A representative for Netflix Ireland has been asked for comment.