Netflix’s skyrocketing growth! Announces price hike after surge in North America
Netflix, the number one streaming platform, has announced a price increase for subscriptions in the United States, Canada, Argentina, and Portugal after adding 19 million new members in the last quarter of 2024, far exceeding expectations. This brings Netflix’s total global membership to 302 million, solidifying its position in the entertainment market with no competition in sight.
According to a report by BBC on January 22, 2025, the price hike will affect several countries, especially in the U.S., where all packages saw an increase, such as:
- Standard package (no ads) from $15.49 to $17.99/month
- Standard package (with ads) from $6.99 to $7.99/month
- Premium package (4K, HDR) from $22.99 to $24.99/month
Netflix explained, “Sometimes we ask members to pay a little more so we can continue to develop and improve our service.” This is not the first price increase; Netflix raised prices in the U.S. and the UK in October 2024 as well.
The surge in new subscribers can be attributed to popular content and live broadcasts that captivated audiences, such as:
- Squid Game season 2, which had a similar impact as season 1, leading to an increase in new sign-ups
- The boxing match between Mike Tyson and Jake Paul, which attracted 108 million viewers worldwide, making it the most-watched sports event on Netflix
- The live broadcast of the NFL on Christmas Day, which had an average of 30 million viewers, breaking the record for holiday American football viewership
- Netflix acquired the rights to broadcast WWE “Raw” and plans to air the FIFA Women’s World Cup in 2027 and 2031
It is clear that Netflix is not just focusing on series or films anymore but is expanding its empire into sports programming and live events to attract a broader audience.
Currently, Netflix is no longer just a platform for movies or TV shows but is evolving into a “full entertainment platform,” offering original content, series, films, sports events, and live broadcasts.
Analysts from PP Foresight commented that Netflix is fully leveraging its strengths and expanding its influence more than ever before by offering a diverse range of content that sets it apart from its competitors.
The price increase may cause some users to hesitate, but with such strong content, Netflix remains a valuable choice and has the potential to grow even further in the global entertainment market.
Reference
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