Netflix on Thursday announced a price hike on all its plans in the United States (US), as the company pushes into new programming formats such as video podcasts and live sporting events.
The streaming giant, in a statement, said that ad-supported tier will now cost $8.99 (approx Rs2,505) a month, compared with $7.99 (approx Rs2,227) earlier, while prices for its standard plan rose $2 (approx Rs557) per month to $19.99 (approx Rs5,571).
Netflix's premium plan is now priced at $26.99 (approx Rs7,522) a month, up from $24.99 (approx Rs6,965) earlier. The streaming company has also increased the price of adding an extra member to $7.99 (approx Rs2,227) for ad-supported plans and to $9.99 (approx Rs2,784) for ad-free plans.
Netflix — having more than 325 million subscribers — had scrapped its cheapest ad-free plan, called basic, in 2023, leaving users with its more expensive premium and standard plans, as well as the standard plan with ads.
According to estimates from TD Cowen analysts, with the new prices, the company's average revenue per subscriber in the US-Canada region will boost 6% year-over-year in 2026.
It is important to note that in recent years, most major streamers have increased prices as they chase hard-to-reach profitability for the subscription businesses.