Attention Netflix subscribers: Your monthly price is about to go up.
The streaming giant on Tuesday said that its standard plan without commercials will be increasing from $15.49 a month to $17.99.
The company’s cheaper plan, which comes with ads, will increase from $6.99 per month to $7.99 per month, Netflix said. It’s Premium plan, Netflix says, will increase from $22.99 to $24.99.
The company, which reported fourth-quarter earnings on Tuesday, said it will also raise prices in Canada, Portugal and Argentina, CNBC reported.
The price hikes come after Netflix reported beat its top and bottom lines for the fourth quarter. It surpassed 300 million paid memberships during the quarter, CNBC said, and added a record 19 million new subscribers.
“When you’re going to ask for a price increase, you better make sure you have the goods and engagement to back it up,” said Netflix co-CEO Ted Sarandos during an investor call Tuesday, teasing to upcoming series and movies set to be released in 2025.
But not everyone appeared to agree.
Netflix users appeared to take to social media after the price hike was released, with many commenters on Netflix’s social accounts upset by the decision.
“19 million new subscribers and its time to raise prices?” one comment on a Netflix Instagram post said.
“I have stood by Netflix from the beginning,” another said. “One more price hike, I am done. I know I am just one person but I am pretty sure millions will feel the same. At this point, the price of everything is too high, and so is Netflix.”
Dozens of similar comments appeared on Netflix’s most recent Instagram post, touting its January 2025 lineup.
Netflix did not immediately respond to NBC Chicago’s request for comment.