Netflix raises U.S. subscriber prices, attributes success to ‘Squid Games’ and NFL games Paul-Tyson fight

Netflix subscribers will see a noticeable jump in their monthly subscription fees as the streaming company enjoys new views.

A: letter to shareholders The company announced on Tuesday that it has raised prices on most plans in the US, Canada, Portugal and Argentina.

According to Netflix Co-CEO, President and CEO Gregory K. Peters, standard monthly memberships have gone up by a dollar to $7.99 a month.

Lucas Bahdi and Armando Casamonica duel on Netflix. Jake Paul vs. Mike Tyson at AT&T Stadium on November 15, 2024 in Arlington, Texas. (Sarah Stier/Getty Images for Netflix/Getty Images)

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Ad-free memberships will increase by more than two dollars to $17.99 a month, Peters said. Premium subscribers will have to pay an additional two dollars per month, bringing the monthly fee to $24.99.

Peters described the company’s new pricing as “very affordable.”

“You’ve seen us raise prices in a number of EMEA and LatAm markets over the last two quarters, and those changes have been smooth,” Peters said. of course, we expect the same for these latest changes.

“I think it’s worth mentioning and repeating that we think our starting price of $7.99 in the US, $17.99 in Canada for Standard with Ads is an incredible entertainment value and a very affordable entry point.”

The new prices are already reflected on the streaming service’s website.

The Netflix logo is seen on a television remote control in this photo taken on Jan. 20, 2022. (REUTERS/Dado Ruvic/Reuters)

Netflix saw a whopping 19 million new subscribers in the fourth quarter, contributing to its total of 302 million subscribers worldwide.

Live events incl Jake Paul vs. Mike Tyson fight and two NFL games contributed to the company’s recent success, according to management.

The fight was the most-televised sporting event of all time, and on Christmas Day, the platform presented the most-televised NFL games in history.

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Theodore A. Sarandos, co-CEO, president and director, noted the bottom line of the economy all-season big leaguer difficult, but if there was a way to make it work, Netflix would look into it.

In addition, the company had success with the second season of its original series, Squid Game, which garnered almost 166 million views.

Other top performing shows include: The Diplomat season 2: 21.4 million views, Senna: 16.2 million views, The Empress season 2: 21 million views, Outer Banks season 4: 36.8 million views, The Lincoln Lawyer season 3 with 33.9 million viewers and Virgin River season 6 with 27.5 million viewers.

LOS ANGELES, CALIFORNIA – JUNE 12: (L-R) Netflix CEO Ted Sarandos and Lee Jung Jae attend Netflix’s FYSEE event for ‘Squid Game’ at Raleigh Studios Hollywood on June 12, 2022. in Los Angeles, California. (Photo by Charlie Galley/Getty Images (harley Gallay/Getty Images for Netflix/Getty Images)

Management noted that the company is earning only 6 percent of its profit opportunities in the countries and sectors it currently serves.

By improving and expanding its offerings, the company hopes to increase its share every year.

“As we continue to invest in programming and deliver more value for our members, we’ll occasionally ask our members to pay a little more so we can reinvest in making Netflix even better,” the investor letter said.

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Fourth-quarter revenue rose 16% year over year to $10.25 billion, according to the company. Shares were up 13 percent Tuesday afternoon on $15 billion in stock purchases.