After the excellent reports: Netflix announces another price increase

The streaming giant Netflix reported excellent reports last night, and announced that it crossed the 300 million subscribers mark in its streaming services in the current quarter. However, Netflix used the momentum to announce a price increase. In the official announcement in the letter to investors in the reports, it is stated: “As we continue to invest in programming and provide more value to subscribers, from time to time we will ask our subscribers to pay a little more so that we can reinvest to make Netflix even better.”

These will be the new prices in the United States: the cost for the basic route without advertisements will increase from 15.5 dollars to 18 dollars. The cheaper route, the one that includes advertisements, will increase from $7 per month to $8 per month. Netflix’s premium track will go from $23 a month to $25 a month.

According to Netflix’s announcement, the price increase now affects the USA, Canada, Portugal and Argentina – at the same time, price increases in the world usually also lead to price increases in other places in the world. For now, it is not yet clear if and when the Netflix subscription will become more expensive in Israel as well .

The company’s co-CEO, Greg Peters, said that the recent price increases in international markets are going “smoothly.” Co-CEO Ted Sarandos noted during the investor call that “when you want to raise prices, you better make sure you have the goods and the engagement to meet behind it.”

Let’s remember, Netflix has raised prices in recent years several times and in different markets. In 2022, the company raised prices in Israel by NIS 10. Last June, the prices at the streaming company went up between NIS 3 and NIS 11, depending on the route.