Netflix celebrated crossing the 300 million subscriber milestone by announcing significant subscriber growth and a new round of price increases. The streaming giant reported ending 2024 with 302 million paid subscribers, marking a quarterly addition of 19 million users and a total increase of 41 million for the year—a new record. Although this marks the final quarter where Netflix will report subscriber growth, the company intends to continue sharing updates as it reaches key milestones.
Despite the impressive numbers, a subtle announcement accompanied the milestone: Netflix is hiking prices once again. This comes slightly over a year since its previous price increase in 2023 and follows similar adjustments made in 2022 and annually since 2014. On average, these price hikes have increased by about $1 to $2 each year.
In its letter to shareholders, Netflix justified the move by emphasizing reinvestment in programming to enhance member value. The company stated, “As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix.”
While the exact details of the price changes were not specified, reports suggest the ad-supported tier will rise from $6.99 to $7.99 monthly, the standard ad-free tier from $15.49 to $17.99, and the premium tier from $22.99 to $24.99. Additionally, Netflix introduced a new "extra member with ads" plan, allowing ad-supported users to add an extra household member for an additional fee. Previously, this feature was available only to standard or premium plans.
Netflix’s quarterly revenue reached $10.2 billion, marking a 16% year-over-year increase, while annual revenue grew similarly to $39 billion. For 2025, the company anticipates revenue growth between 12% and 14%.
