Netflix has announced price increases for its subscription plans in the United States, Canada, Argentina and Portugal, with the streaming giant leaving open the possibility of similar hikes in other markets.
In the United States, the ad-supported basic plan will rise to $7.99 from $6.99 monthly, while the standard plan increases to $17.99 from $15.49. The premium plan with 4K resolution will cost $24.99, up from $22.99.
“We occasionally ask our members to pay a little more so we can continue to improve,” Netflix said in a statement. When asked about potential price increases in Europe, a company spokesperson told BBC they “cannot comment at this time”.
Despite the price hikes, Netflix reported strong growth with 19 million new subscribers by the end of 2024, driven by high-profile content including the Jake Paul vs Mike Tyson boxing match and the premiere of Squid Game 2.
The streaming service continues to invest heavily in content development, though it remains unclear when or if the price increases will extend to other markets.
The streaming service has not yet implemented similar changes in Cyprus, however, the price adjustments could eventually reach the Cypriot market, following the company’s pattern of rolling out increases gradually across regions.
For now, Cypriot subscribers will maintain their current subscription rates as they await further announcements from the platform.
