Netflix is raising its subscription prices in several countries after adding nearly 19 million new subscribers in the final months of 2024. The streaming giant announced price hikes in the US, Canada, Argentina, and Portugal. When asked about potential increases in the UK, Netflix said there were “no updates to share at this time.”

The company’s impressive growth was boosted by the success of Squid Game 2 and major live sports events, including the boxing match between Jake Paul and Mike Tyson. These factors helped Netflix exceed expectations for new subscribers.

In the US, most subscription plans will see price increases, including the ad-free standard plan, which will rise from $15.49 to $17.99 per month. The ad-supported plan will also increase by $1, bringing the cost to $7.99. This is Netflix’s second price hike in the US, following a similar increase in October 2023.

“We occasionally ask our members to pay a little more so we can reinvest in improving Netflix,” the company explained.

In total, Netflix finished the year with over 300 million subscribers, far exceeding its forecast of 9.6 million new sign-ups between October and December. Going forward, Netflix will no longer report quarterly subscriber growth, instead focusing on key milestones in paid memberships.

Along with Squid Game 2 and the Paul vs Tyson fight, Netflix also made waves by streaming two NFL games on Christmas Day. The platform has committed to broadcasting more live events, including WWE wrestling and the 2027 and 2031 FIFA Women’s World Cup.

Technology analyst Paolo Pescatore noted, “Netflix is leveraging its stronger, more diverse content lineup to adjust prices, putting it ahead of competitors.”

Netflix’s net profit for the October to December period more than doubled to $1.8 billion, while sales rose from $8.8 billion to $10.2 billion.