Netflix has announced a surge in subscriber numbers, surpassing expectations and showcasing the impact of its strategic content offerings. The platform's growth was significantly bolstered by the second series of the South Korean drama "Squid Game" and popular sports events, including the much-anticipated boxing match between Jake Paul and Mike Tyson. In response to these developments, Netflix plans to increase subscription prices in several regions, aiming to sustain its momentum and reinvest in content.
The streaming giant continues to diversify its content library, with plans to broadcast more live events, such as WWE wrestling. Additionally, Netflix has secured broadcasting rights for the FIFA Women's World Cup in 2027 and 2031, marking a significant expansion into sports programming. Last Christmas, the platform streamed two NFL games, attracting a large audience and further enhancing its appeal to sports fans.
This marks a pivotal moment for Netflix as it reports quarterly subscriber growth for the last time. Moving forward, the company will announce paid memberships as key milestones are reached, reflecting a shift in its reporting strategy. At the close of last year, Netflix boasted over 300 million subscribers globally, with sales rising from $8.8 billion to $10.2 billion.
In terms of pricing, Netflix will implement increases across various regions, including the US, Canada, Argentina, and Portugal. The membership plan with advertisements will rise by one dollar to $7.99. In the US, nearly all plans will see price hikes; notably, the standard subscription without adverts will increase from $15.49 to $17.99 per month.
"We will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix," stated Netflix.
The last price adjustment in the US occurred in October 2023, coinciding with similar changes for some plans in the UK. Despite these increases, Netflix remains committed to enhancing its service offerings and content quality.
When asked about further details on these changes, a spokesperson for Netflix commented that there was "nothing to share right now."