Netflix likely to raise subscription fees

Netflix, the world’s leading streaming platform, is set to increase subscription fees in several countries as part of a strategy to reinvest in the platform and enhance the overall user experience.

The decision comes after a major surge in subscribers, with nearly 19 million new members joining in late 2024, pushing Netflix’s global subscriber count to an impressive 300 million.

In the United States, most Netflix subscription plans will see a price increase, with the standard ad-free plan rising from $15.49 to $17.99 per month.

The ad-supported plan will also see a $1 increase, bringing it to $7.99 per month, while the premium plan will jump by $2 to $24.99 starting next month.

Other countries, including Canada, Portugal, and Argentina, will follow a similar pattern of price hikes.

Netflix has cited the need for additional funds to continue expanding its content library and upgrading its technology as the reason behind the price increases.

Despite the hikes, Netflix’s subscriber growth continues to thrive, showing that the company’s dominance in the competitive streaming market remains strong.