Netflix announces it will raise prices to $17.99; Premium to $24.99/month: Reports

Netflix announced it is raising prices for its subscribers.

Users of the streaming giant will soon have to pay $17.99 a month to watch shows and movies without commercials, up from the current price of $15.49, according to reports from The Verge, CNN and AppleInsider.com. Those with a standard account, meaning with ads included, will soon have to pay $7.99 a month, the reports said.

Premium subscribers, those watching shows and movies with 4K video quality, will soon be charged $24.99 a month, marking a price bump of $2, according to the reports.

The reports also come as a letter Netflix sent to its shareholders said it will "occasionally" ask subscribers to "pay a little more."

"As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix. To that end, we are adjusting prices today across most plans in the US, Canada, Portugal and Argentina (which was already factored into the 2025 guidance we provided in October 2024)," the letter read.

Tuesday's news marks the second price hike since 2022, which was the last time standard subscription rates went up. In the letter, Netflix said the ad plan has been popular, accounting for more than half of sign-ups in countries offering the plan.

Netflix did not say when the price hikes will be in effect.

The Source: This report used information from the letter Netflix issued to its shareholders, which FOX 11 obtained, in addition to reports from The Verge, CNN, and AppleInsider.com.

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