Netflix will increase prices on regular, ad-supported plans

Netflix The cost of most US plans is going up.

The streamer announced Tuesday that its regular plan has gone up from $15.49 to $17.99 a month without ads. The cheaper, ad-supported plan, which was recently introduced to attract more subscribers, will increase from $6.99 to $7.99 per month.

Additionally, the monthly cost of the Netflix Premium plan will increase from $22.99 to $24.99.

The company, which reported fourth-quarter earnings on Tuesday, said it would raise prices in Canada, Portugal and Argentina.

Consumers have faced several price hikes in recent years on major streaming services, including Netflix and its competitors. Disney Apps and Warner Bros. Discovery’s High. Streamers have turned to higher prices and ad-supported plans as they seek to reach profitability.

Netflix introduced the ad-supported plan in November 2022 in response to slow subscriber growth at the time. In November, Netflix said it had reached 70 million monthly active users on its advertising plans.

The company has been cracking down on password sharing in an effort to get more customers to pay for the service.

As part of that change, Netflix has given subscribers the option to add “additional members” to their accounts. The streamer announced Tuesday that the cost of additional members without ads will rise from $7.99 to $8.99 a month. Additional members on ad-supported plans will not see a price change.

The push appears to be paying off: Netflix reported Tuesday that it added a record 19 million paid memberships in the fourth quarter, adding more than 300 million subscribers.

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