Netflix plans to raise the cost of a subscription after reporting one of its best financial quarters to end 2024.
A standard basic plan including advertisements will now cost $17.99, with a premium subscription with no ads running customers $24.99 a month.
The streaming giant said this week it added 19 million new subscribers worldwide during the fourth quarter of 2024, driven by widespread interest in live sporting events like Christmas Day NFL games and a prize fight between Mike Tyson and Jake Paul in November.
Netflix, which now carries more than 300 million subscribers worldwide, told investors this week it is projecting revenue to reach more than $43 billion in 2025 as the company pushes further into live entertainment and consumer experiences.
CEO Ted Sarandos said during an investor call this week broadening its partnership with the NFL remains a top priority for the streamer.
“So if there was a path where we can actually make the economics work for both us and the League, we certainly would explore,” Sarandos said. “But right now, we believe that the live events business is where we really want to be and sports is a very important part of that but it is a part of that expansion.”
Netflix is one of several major tech and entertainment companies that have taken legacy broadcasters and movie studios head on for audience share and advertising dollars as more consumers turn to streaming for entertainment, sports and news.
